mikee3236 mikee3236

19-07-2019
Business

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Which of the following is not a characteristic of monopolistic competition? Firms are price takers. There are many buyers and sellers. Barriers to entry are low.

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agustinsr99 agustinsr99

30-07-2019

Answer:

1) Companies are price takers. It is not a characteristic of monopolistic competition.

Explanation: In monopolistic competition, the products offered are characterized by differentiation and this differentiation gives companies market power, to be able to decide when setting their prices and not be price takers.

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