Which of the following is not a characteristic of monopolistic competition?

  • Ease of entry into the industry.
  • Product differentiation.
  • A relatively large number of sellers.
  • A homogeneous product.

Answer d) A homogeneous product.

Monopolistic competition portrays an industry wherein many firms offer services and products that are comparable (however noticeably flawed) substitutes. Barriers to exit and entry in a monopolistic cutthroat industry are low, and the choices of any one firm don’t straightforwardly influence those of its rivals.

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