A firm that charges the maximum price without attracting ...
A firm that charges the maximum price without attracting competition from new entrants is
Oil firms
Monopolistic competitive firm
Monopolistic firm
Perfectly competitive firm
Correct answer is C
Monopolistic firm is characterizes by an industry in which many firms offer products or services that are similar, but not perfect substitutes. Barriers to entry and exit in a monopolistic competitive industry are low, and the decisions of any one firm do not directly affect those of its competitors.
Pure monopoly describes market where ...
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