题目
题目

AP Economics-Hillebrand Micro Unit 4 Exam v2- Requires Respondus LockDown Browser

单项选择题

Which of the following statements correctly identifies a difference between perfect competition and monopolistic competition?

选项
A.In perfect competition the firms all sell products that are exactly the same, but in monopolistic competition each firm sells a slightly differentiated product.
B.In perfect competition there are no barriers to entry, but there are strong barriers in monopolistic competition.
C.In perfect competition firms maximize profit by selling the quantity where marginal revenue equals marginal cost, but in monopolistic competition firms maximize profit by selling the quantity where marginal revenue exceeds marginal cost.
D.In perfect competition there are many firms, but in monopolistic competition there are only a few firms.
E.In perfect competition there are few consumers, but in monopolistic competition there are many consumers.
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标准答案
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思路分析
The question asks us to compare a difference between perfect competition and monopolistic competition. Option 1: 'In perfect competition the firms all sell products that are exactly the same, but in monopolistic competition each firm sells a slightly differentiated product.' This statement captures a fundamental distinction between the two market structures: product differentiation is minimal to non-existent in perfect competition (homogeneous products), whereas in monopolistic compe......Login to view full explanation

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