Which of the following is not a characteristic of monopolistic competition?
a) The market is fragmented.
b) There is free entry and exit.
c) In the long-run equilibrium, firms earn positive profits.
d) Firms produce horizontally differentiated products.
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Home » Business » Which of the following is not a characteristic of monopolistic competition? a) The market is fragmented. b) There is free entry and exit. c) In the long-run equilibrium, firms earn positive profits.