Which of the following is true of firms in both monopolistic competition and per

Question

Which of the following is true of firms in both monopolistic competition and perfect competition? a. Firms face a horizontal demand curve. b. Price exceeds marginal revenue. c. Firms can enter and leave the industry with relative ease. d. Price exceeds marginal cost. e. Products are differentiated.
Which of the following is true of firms in both monopolistic competition and perfect competition? a. Firms face a horizontal demand curve. b. Price exceeds marginal revenue. c. Firms can enter and leave the industry with relative ease. d. Price exceeds marginal cost. e. Products are differentiated.

Explanation / Answer

C

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