Which of the following industries is most likely to be monopolistically competitive?

Question

Quizplus · Accepted Answer

The car repair industry is most likely to be monopolistically competitive because it consists of many firms that offer differentiated products (services in this case) that are not perfect substitutes. This allows for some degree of market power and price setting, but firms must also take into account the competitive pressures from other similar businesses.

Which of the Following Industries Is Most Likely to Be