Which of the following correctly describes a characteristic of the economic market referred to as monopolistic competition? (1 point)

Question

O In monopolistic competition, it is difficult for businesses to exit the market.
O In monopolistic competition, businesses do not sell the same good/service.
O In monopolistic competition, it is difficult for businesses to enter the market.
O In monopolistic competition, there is a large number of small businesses in competition with each other.

Answer 1

O In monopolistic competition, businesses do not sell the same good/service.