Lee, J Brand, Joe's Jeans, Paper Denim & Cloth, Levi's, Wrangler, and many others are all producers of jeans. In what type of market does Lee operate?

Question

Quizplus · Accepted Answer

Lee operates in a market with many competitors that produce similar products, but each company differentiates their brand through advertising, design, and quality, which creates a non-identical product. This type of market is called monopolistic competition.