Business, 03.01.2020 05:31 jjjones2233

Amonopolistically competitive industry combines elements of both competition and monopoly. it is correct to say that the competitive element results from:

a) a relatively large number of firms and the monopolistic element from product differentiation.

b) product differentiation and the monopolistic element from high entry barriers.

c) a perfectly elastic demand curve and the monopolistic element from low entry barriers.

d) a highly inelastic demand curve and the monopolistic element from advertising and product promotion.

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Amonopolistically competitive industry combines elements of both competition and monopoly. it is cor...

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