Monopoly, Competition & Labour Market Mcqs


Q.  The use of the word “monopoly” in the name of the market structure called “monopolistic competition” refers to the fact that ?

a. monopolistically competitive firms charge prices equal to their marginal costs just like monopolists
b. a monopolistically competitive firms faces a downward-sloping demand curve for its differentiated product and so does a monopolist
c. monopolistically competitive markets have free entry and exit just like a monopolistic market
d. monopolistically competitive firms produce beyond their efficient scale and so do monopolists


ANSWER: See Answer
 
No explanation is available for this question!
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