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7 January, 03:30

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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  1. 7 January, 05:03
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    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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