Which of the following markets is not likely characterized by a monopolistically competitive market?

Question

Quizplus · Accepted Answer

The market for corn is likely to be characterized by perfect competition or oligopoly, as there are usually a few large firms that dominate the market. Monopolistically competitive markets are usually characterized by a large number of firms that offer slightly differentiated products. The markets for piano lessons, cookies, and clothing are more likely to be monopolistically competitive, as there are many small firms that offer slightly different goods or services.

Which of the Following Markets Is Not Likely Characterized by a Monopolistically