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Monopolistic competition: Quiz


Question 1: Another concern of critics of monopolistic competition is that it fosters ________ and the creation of brand names.
Advertising researchMarketingAdvertisingProduct placement

Question 2: In the long-run, other firms enter the market and the benefits of differentiation decrease with competition; the market becomes more like ________ where firms cannot gain economic profit.
Perfect competitionJEL classification codesEconomicsNeoclassical economics

Question 3: Textbook examples of industries with market structures similar to monopolistic competition include restaurants, ________, clothing, shoes, and service industries in large cities.

Question 4: In monopolistic competition firms can behave like ________ in the short-run, including using market power to generate profit.
Competition lawMonopolyNatural monopolyBarriers to entry


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