Which of the following is/are feature of monopolistic competition?

Sellers try to compete on basis other than price.

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Product differentiation

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Freedom of entry or exit

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All of the above

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Solution

The correct option is B All of the above
Monopolistic competition is a market structure where there are large number of sellers selling differentiated products. There is also no entry barriers on the firm. Hence, these are the features of monopolistic competition.

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