Competition like that between Tide and Cheer, Coke and Pepsi, and Sears and Ralph Lauren is
A) oligopolistic competition.
B) monopolistic competition.
C) oligopoly.
D) perfect competition.
E) monopoly.

Question

Quizplus · Accepted Answer

Monopolistic competition is characterized by a large number of firms operating within the same industry, but each offering slightly differentiated products. This type of competition allows firms to have some control over pricing and creates a more competitive market environment. Tide and Cheer, Coke and Pepsi, and Sears and Ralph Lauren all offer products that are similar but have unique features or branding, making them good examples of monopolistic competition. Oligopolistic competition would imply a market dominated by a small number of large firms, whereas perfect competition and monopoly do not fit the description of the competition between these companies.

Competition Like That Between Tide and Cheer, Coke and Pepsi