Which of the following is least likely to be a monopolistically competitive market in the United States?
A) Farmers' Markets held one or two mornings a week in parking lots around town
B) Patented pharmaceuticals
C) Mobile telephone service
D) Automotive manufacturing
E) Fast food restaurants

Question

Quizplus · Accepted Answer

Patented pharmaceuticals are least likely to be a monopolistically competitive market because they are protected by patents, which grant the company exclusive rights to produce and sell the medication, creating a temporary monopoly situation until the patent expires. This differs from the other options where many firms compete by differentiating their products.

Which of the Following Is Least Likely to Be a Monopolistically