The competitive market situation in which many sellers compete on nonprice factors is referred to as
A) a pure monopoly.
B) an oligopoly.
C) pure competition.
D) monopolistic competition.
E) monopolistic oligopoly.

Question

Quizplus · Accepted Answer

Monopolistic competition is a market structure where many sellers compete by differentiating their products through nonprice factors such as branding, quality, or features, rather than just price.

The Competitive Market Situation in Which Many Sellers Compete on Nonprice