Which of the following characteristics applies to a monopolistically competitive? industry?
A. Firms act independently of each other.
B. There are very few firms in the industry.
C. Collusion is common.
D. Firms in the industry each control a large share of the market.
e. Products are? similar, but not? identical, to? competitors' products.
Answer:
A. Firms act independently of each other.
e. Products are? similar, but not? identical, to? competitors' products.
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