Shopping malls typically lease retail space to a large number of clothing stores. When this group of retailers competes to sell similar but not identical products, they engage in what economists call _______.
A) a cartel
B) collusion
C) monopolistic competition
D) perfect competition

Question

Quizplus · Accepted Answer

Monopolistic competition occurs when many sellers offer similar but not identical products, which is common among clothing stores in shopping malls.

Shopping Malls Typically Lease Retail Space to a Large Number