Dole Co. operates in a monopolistically competitive market. Which of the following does not characterize Dole Co.'s market?

Question

Dole Co. operates in a monopolistically competitive market. Which of the following does  not  characterize Dole Co.'s market?

Accepted Answer

Dole Co. must pay close attention to the decisions of each of its competitors.

Answer

Dole Co.'s product is slightly different from its competitors.

Answer

Dole Co. is unable to collude with other firms in the market.

Answer

Dole Co. faced no barrier to entry when it decided to enter its market.

Answer

Dole Co. supplies a small portion of the market's output.

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