Product variety in monopolistic competition comes at the cost of

Name: Product variety in monopolistic competition comes at the cost of
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Product variety in monopolistic competition comes at the cost of nonprice competition. Nonprice competition refers to competition based on factors other than price, such as product differentiation, advertising, and customer service. In monopolistic competition, firms compete by offering differentiated products, which can lead to higher costs and lower profits.

Product Variety in Monopolistic Competition Comes at the Cost of