The women\'s dress industry is monopolistically competitive. This means that the

ID: 1165524 • Letter: T

Question

The women's dress industry is monopolistically competitive. This means that the following condition applies to this industry:

Prices tend to be lower than if the dress industry approximated perfect competition.

There are thousands of dress suppliers, all selling identical products.

There is freedom of entry but not exit in this industry.

Dresses tend to be differentiated among the many sellers serving this market.

Prices tend to be lower than if the dress industry approximated perfect competition.

There are thousands of dress suppliers, all selling identical products.

There is freedom of entry but not exit in this industry.

Dresses tend to be differentiated among the many sellers serving this market.

the main two key characteristics of monopolistic competition market:

1) firms compete by selling differentiated products that are highly substitutable for one another but not perfect substitute.

2) there is free entry and exit in this market.

in the above-given condition, dresses tend to be differentiated among the many sellers serving this markets.

option d will be answer.

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