I need the answer as soon as possible 22. The situation of monopolisticcompetition is created byA. O Small number of producers of acommodityB. O Lack of homogeneity of the productproduced by different firmsC. O Imperfection of the market for thatproductD. O All of the above

Based on the features of the market, number of sellers, type of products, barriers to entry, etc.,…

Answered: The situation of monopolistic…

Business

Economics

The situation of monopolistic competition is created by

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter10: Monopolistic Competition And Oligopoly

Section: Chapter Questions

Problem 1.1P

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Concept explainers

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

Question

I need the answer as soon as possible

22. The situation of monopolistic
competition is created by
A. O Small number of producers of a
commodity
B. O Lack of homogeneity of the product
produced by different firms
C. O Imperfection of the market for that
product
D. O All of the above

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