The market for orthodontic services in most communities is _____ because it offers a large number of similar but not identical options.
A)monopolistically competitive
B)monopolistic
C)perfectly competitive
D)oligopolistic

Question

Quizplus · Accepted Answer

The market for orthodontic services in most communities is monopolistically competitive because there are many orthodontists offering similar but not identical services, such as braces or clear aligners. Each orthodontist differentiates themselves based on factors such as price, location, reputation, and the specific techniques or technologies they use. This competition results in a market with multiple firms, low barriers to entry and exit, and some control over pricing.

The Market for Orthodontic Services in Most Communities Is _____