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Which of the following is not a characteristic of monopolistic competition? Firms are price takers. There are many buyers and sellers. Barriers to entry are low.
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Which of the following is not a characteristic of monopolistic competition? Firms are price takers. There are many buyers and sellers. Barriers to entry are low.

User EmilyJ
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Answer:

1) Companies are price takers. It is not a characteristic of monopolistic competition.

Explanation: In monopolistic competition, the products offered are characterized by differentiation and this differentiation gives companies market power, to be able to decide when setting their prices and not be price takers.

User UKolka
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