Answered

Welcome to Westonci.ca, your one-stop destination for finding answers to all your questions. Join our expert community now! Get the answers you need quickly and accurately from a dedicated community of experts on our Q&A platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

Monopolistic competition is characterized by a:
A. few dominant firms and low entry barriers.
B. large number of firms and substantial entry barriers.
C. large number of firms and low entry barriers.
D. few dominant firms and substantial entry barriers.

Sagot :

ayokenny2001

Monopolistic competition is characterized by a large number of firms and low entry barriers.

What is monopolistic competition?

Monopolistic competition occurs where competitive firms produces or manufactures products or services that are similar and close substitutes to one another.

The characteristics of the monopolistically competitive market includes:

1. Presence of many sellers in the market

2. Easy entrance and exit of consumers in the market

3. Differentiated products in the market.

Hence, monopolistic competition is characterized by a large number of firms and low entry barriers.

Learn more about monopolistic competition here: https://brainly.com/question/3520816

Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.