Which of the following is a characteristic of 'monopolistic competition'?
A) Neither the supplier nor the buyer can influence the price of the product because there are a large number of buyers and sellers.
B) There is a high degree of product differentiation.
C) A limited number of suppliers and a limited product differentiation.
D) The supplier cannot influence the price of the product because there are a large number of buyers.
Correct Answer:
Verified
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