Dozens of regional, private brands of peanut butter compete with national brands like Skippy and Jif. This industry is an example of
A) pure monopoly.
B) oligopoly.
C) monopolistic competition.
D) bilateral monopoly.
E) monopolistic oligopoly.

Question

Quizplus · Accepted Answer

The peanut butter industry, with many regional and private brands competing with national brands, is an example of monopolistic competition, where many firms sell products that are similar but not identical.

Dozens of Regional, Private Brands of Peanut Butter Compete with National