Under ________, the market consists of many buyers and sellers who trade over a range of prices rather than a single market price.
A) pure competition
B) monopolistic competition
C) oligopolistic competition
D) a pure monopoly
E) the dominant firm model

Question

Quizplus · Accepted Answer

Monopolistic competition is characterized by many buyers and sellers trading over a range of prices because products are differentiated, allowing for some price variation.

Under ________, the Market Consists of Many Buyers and Sellers