Monopolistic competition is common in
A)retail selling.
B)farming.
C)basic manufacturing.
D)electric power generation.

Question

Quizplus · Accepted Answer

Monopolistic competition is a market structure in which many firms compete by selling differentiated products, such as clothing, electronics, and other consumer goods. Retail selling involves many different stores selling similar but not identical products, making it a common example of monopolistic competition. The other options (farming, basic manufacturing, and electric power generation) are typically more likely to be dominated by either perfect competition or oligopolies.

Monopolistic Competition Is Common in