Which statement is true? Product differentiation can take place even if there ar

Question

Which statement is true? Product differentiation can take place even if there are no physical differences among products. Price discrimination is not possible in monopolistically competitive firms. Economies of scale ensure that monopolistically competitive firms make a profit in the long run. The absence of barriers to entry ensures short-run profits for monopolistic competitors. Which statement is true? Product differentiation can take place even if there are no physical differences among products. Price discrimination is not possible in monopolistically competitive firms. Economies of scale ensure that monopolistically competitive firms make a profit in the long run. The absence of barriers to entry ensures short-run profits for monopolistic competitors. Product differentiation can take place even if there are no physical differences among products. Price discrimination is not possible in monopolistically competitive firms. Economies of scale ensure that monopolistically competitive firms make a profit in the long run. The absence of barriers to entry ensures short-run profits for monopolistic competitors. Product differentiation can take place even if there are no physical differences among products.

Explanation / Answer

Price discrimination is not possible in monopolistically competitive firms.

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