Subject Category > Chemistry

Q. Which of the following is a characteristic of the monopolistic competition?

A) Each firm produces a differentiated product

B) A large number of firms compete

C) Barriers to entry

D) Both answers A and B are correct

✔ Both answers A and B are correct

Additional Information > Exam point of View

A key characteristic of monopolistic competition is product differentiation, where firms sell similar but not identical products.

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