Answered

Find solutions to your problems with the help of IDNLearn.com's expert community. Ask any question and receive comprehensive, well-informed responses from our dedicated team of experts.

In a monopolistic competitive industry, a. there are significant barriers to exit. b. there are few sellers. c. there are significant barriers to entry. d. each firm in the industry produces a slightly differentiated product.

Sagot :

Tundexiidn

Each firm in the monopolistic competitive industry produces a slightly differentiated product.

The monopolistic competition occurs where competitive firms produces or manufactures products or services that are similar and close substitutes to one another.

The characteristics of the monopolistically competitive market includes:

  • presence of many sellers in the market
  • easy entrance and exit of consumers in the market
  • differentiated products in the market.

Therefore, the Option D is correct because each firm in the monopolistic competitive industry produces a slightly differentiated product.

Read more about monopolistic competition:

brainly.com/question/25717627

Your participation means a lot to us. Keep sharing information and solutions. This community grows thanks to the amazing contributions from members like you. IDNLearn.com provides the best answers to your questions. Thank you for visiting, and come back soon for more helpful information.