A monopolistically competitive market differs from a perfectly competitive market in that a monopolistically competitive market has
A)more sellers.
B)products that are identical.
C)less sticky prices.
D)firms that are price setters.

Question

Quizplus · Accepted Answer

In a monopolistically competitive market, firms have some control over the price of their products and can act as price setters, whereas in a perfectly competitive market, no single firm has the ability to set prices as all products are identical and the market is highly competitive.

A Monopolistically Competitive Market Differs from a Perfectly Competitive Market