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

Question

Quizplus · Accepted Answer

Gas stations can be considered monopolistically competitive because even though the gasoline is the same, each gas station can differentiate itself through location, convenience, branding, customer service, and other factors. This allows them to have some control over pricing and to compete with other gas stations in their area.

Gas Stations Are Not Monopolistically Competitive Because Everyone Knows the Gasoline