Question

Features of Monopolistic Competition​

Answer 1

Answer:

The main features of monopolistic competition are as under:

Large Number of Buyers and Sellers:

Free Entry and Exit of Firms:

Product Differentiation:

Selling Cost:

Lack of Perfect Knowledge:

Less Mobility:

More Elastic Demand:

Explanation:

TAKE CARE

Answer 2

• Large Number of Buyers and Sellers
• Free Entry and Exit of Firms
• Product Differentiation
• Selling Cost
• Lack of Perfect Knowledge