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Firms that has no significant barriers to entry Select one: a. none b. monopoly c. perfect competition d. monopolistic competition

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter10: Monopolistic Competition And Oligoply

Section: Chapter Questions

Problem 5SQP

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Question

Firms that has no significant barriers to entry

Select one:

a. none

b. monopoly

c. perfect competition

d. monopolistic competition

Definition Definition Form of market structure in which there are a large number of sellers of a particular product, with each seller selling somewhat differentiated but close substitutes to the product sold by other sellers. Features of monopolistic competition include: Large number of buyers and sellers Differentiated products Free entry and exit of the firms in the market

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