Which of the following products is most likely to be sold in a monopolistically competitive market?

Question

Quizplus · Accepted Answer

Fast food is a product that is easily differentiated through branding, menu options, and location. There are many competitors in the market, but each has a degree of control over their price and quality, making it a monopolistically competitive market. Coal, wheat, and electricity are all homogeneous products, meaning there is little differentiation between brands, and are more likely to be sold in perfectly competitive or oligopolistic markets.

Which of the Following Products Is Most Likely to Be