In a monopolistically competitive market, a firm can have some control over the price of its product due to:
A) service.
B) location.
C) advertising.
D) all of the above.

Question

Quizplus · Accepted Answer

In a monopolistically competitive market, firms can differentiate their products through various means such as service, location, and advertising. This differentiation allows them some control over their pricing, as consumers may be willing to pay more for a product that better meets their preferences or is more conveniently located.

In a Monopolistically Competitive Market, a Firm Can Have Some