A market with a large number of sellers and a high level of product differentiation is known as
A)a perfectly competitive market.
B)a monopoly.
C)an oligopoly.
D)a monopolistically competitive market.

Question

Quizplus · Accepted Answer

A monopolistically competitive market has a large number of sellers and a high level of product differentiation. In this type of market, each firm has some market power to influence price due to the differentiation of their products, but there is still competition from other firms offering similar products.

A Market with a Large Number of Sellers and a High