When an industry has several firms, each of which is striving to offer a unique marketing mix, which competitive structure exists?
A) Monopolistic competition
B) Differentiated competition
C) Oligopolistic competition
D) Pure competition

Question

Quizplus · Accepted Answer

Monopolistic competition is characterized by many firms offering products or services that are similar but not identical, allowing them to compete on factors other than price, such as quality, brand, or unique features.

When an Industry Has Several Firms, Each of Which Is