In a market with ________,there are many sellers,each offering a slightly different product.Firms can differentiate products and focus on nonprice competition.
A)pure competition
B)monopolistic competition
C)oligopolistic competition
D)a pure monopoly
E)socialism

Question

Quizplus · Accepted Answer

Monopolistic competition is characterized by many firms selling slightly differentiated products. This allows firms to compete on factors other than price, such as product quality, advertising, and customer service.

In a Market with ________,There Are Many Sellers,each Offering a Slightly