Consumers benefit from monopolistic competition by
A)being able to choose from products more closely suited to their tastes.
B)paying the lowest possible price for the product.
C)paying the same price as everyone else.
D)being able to purchase high-quality products at low prices.

Question

Quizplus · Accepted Answer

Monopolistic competition allows for differentiation of products, which means that consumers have a greater variety of options to choose from that are more closely suited to their tastes. This differentiation can lead to better quality products or unique features that a consumer may prefer, which enhances the overall consumer experience.

Consumers Benefit from Monopolistic Competition by