Because most communities have a large number of similar but not identical substitutes, the market for chiropractors is best considered to be:
A) an oligopoly.
B) perfect competition.
C) monopolistically competitive.
D) a monopoly.

Question

Quizplus · Accepted Answer

The market for chiropractors is best considered to be monopolistically competitive because there are many providers offering similar but differentiated services, allowing for some degree of market power and competition.

Because Most Communities Have a Large Number of Similar but Not