-Monopolistic competition is a market structure in which a ________ number of firms compete and each firm produces ________ product.
A) large; an identical
B) small; an identical
C) large; a differentiated
D) small; a differentiated

Question

-Monopolistic competition is a market structure in which a ________ number of firms compete and each firm produces ________ product.
A) large; an identical 
B) small; an identical 
C) large; a differentiated 
D) small; a differentiated

Quizplus · Accepted Answer

Monopolistic competition is characterized by a large number of firms, each producing a differentiated product, allowing for some degree of market power.

-Monopolistic Competition Is a Market Structure in Which a ________