A market has a large number of sellers that produce differentiated products and have limited control over their prices. Entry into this market by new sellers is fairly easy. This market is:
A) an oligopoly.
B) monopolized.
C) purely competitive.
D) monopolistically competitive.

Question

Quizplus · Accepted Answer

This description fits a monopolistically competitive market, where many sellers offer differentiated products and face few barriers to entry, but have some control over their prices due to product differentiation.

A Market Has a Large Number of Sellers That Produce