Gas stations are not monopolistically competitive, because everyone knows the gasoline is the same regardless of where it is purchased.True

Question

Quizplus · Accepted Answer

Gas stations can be considered monopolistically competitive because they differentiate themselves through location, convenience, and pricing strategies. While gasoline is a standardized product, the overall shopping experience at a particular gas station can vary, leading to competition among stations.

Gas Stations Are Not Monopolistically Competitive, Because Everyone Knows the Gasoline