Post Utme Aaua 2022 Economics Question 12

Practice objective / multiple choice question 12 from the 2022 Post Utme Aaua Economics examination.

Post Utme Aaua 2022 Economics Objective / Multiple Choice
Question 12 POST_UTME_AAUA • 2022 • ECONOMICS • objective

A monopolistically competitive firm is characterized by a large number of firms producing a differentiated product. Which of the following is a characteristic of a monopolistically competitive market?

Answer Options

A. A \single firm produces the entire output.
B. Firms produce a homogeneous product.
C. Firms have a large number of close substitutes.
Correct Answer D. Firms produce a differentiated product.
Correct Answer
D
Correct Option:
Firms produce a differentiated product.

About This Question

This is Post Utme Aaua 2022 Economics Question 12. It is one of the objective questions from the 2022 Post Utme Aaua Economics examination.

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