________ occurs when there are many buyers and sellers and little differentiation between products,but perceived differences between products among consumers.

Question

Quizplus · Accepted Answer

Monopolistic competition occurs when there are many buyers and sellers in the market, and there is little differentiation between products, but consumers perceive differences due to branding, advertising, or other factors. This type of market structure allows for some degree of pricing power by individual firms but also includes some competitive pressures.

________ Occurs When There Are Many Buyers and Sellers and Little