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Monopolistic Competition Quiz

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Questions and Answers

Which of the following is NOT a characteristic of monopolistic competition?

Product differentiation

Many buyers and sellers

Low barriers to entry

Price control by a single firm (correct)

Which of the following is a potential disadvantage of monopolistic competition?

Lack of product differentiation

Higher prices for consumers (correct)

No competition among firms

Fewer choices for consumers

Which of the following is NOT an example of a market with monopolistic competition?

Fast food restaurants

Gas stations

Hair salons

Pharmaceutical companies (correct)

Monopolistic Competition Quiz

Choose a study mode

Podcast

Questions and Answers

Which of the following is NOT a characteristic of monopolistic competition?

Which of the following is a potential disadvantage of monopolistic competition?

Which of the following is NOT an example of a market with monopolistic competition?

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