In monopolistic competition, there are
A) many firms selling products for which no good substitutes exist.
B) many firms selling similar but slightly different products.
C) many firms, each selling an identical product.
D) a small number of firms, each selling an identical product.

Question

Quizplus · Accepted Answer

In monopolistic competition, many firms sell products that are similar but differentiated from each other, allowing for some degree of market power.

In Monopolistic Competition, There Are