What is a market structure called with large numbers of buyers and sellers of differentiated products?
A) supply and demand
B) pure competition
C) oligopoly
D) monopolistic competition

Question

Quizplus · Accepted Answer

Monopolistic competition is characterized by a large number of buyers and sellers, where the sellers offer differentiated products that are not perfect substitutes for one another. This allows for some degree of market power and price control by individual firms, unlike in perfect competition where products are homogeneous.

What Is a Market Structure Called with Large Numbers of Buyers