
Which of the following is true with regard to monopolistic competition?
A) Under monopolistic competition, the market consists of many buyers and sellers who trade at a single market price.
B) Under monopolistic competition, the market consists of only a few large sellers.
C) In a monopolistic market, little time is spent on marketing strategy.
D) Sellers can differentiate their products to buyers.
E) In a monopolistic market, price becomes a major competitive tool.
Correct Answer:
Verified
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