Monopolistically competitive markets are different from, Ask an Expert

Economics

Monopolistically competitive markets are different from perfectly competitive markets because in monopolistically competitive markets firms:

a. have some control over price, while in perfectly competitive markets firms have no control over price.

b. face substantial barriers to entry, while in perfectly competitive markets firms face no significant barriers to entry.

c. sell a standardized product, while in perfectly competitive markets firms sell a differentiated product.

d. have no control over price, while in perfectly competitive markets firms have some control over price.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91719133

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