A monopolistically competitive market can also be:
A) perfectly competitive market.
B) a monopoly.
C) an oligopoly.
D) All of the above.

Question

Quizplus · Accepted Answer

A monopolistically competitive market is not a perfectly competitive market because it involves product differentiation and firms have some market power. It is also not a monopoly because there are many firms competing in the market. However, it can be considered an oligopoly if there are only a few dominant firms in the market. Therefore, choice C is the best answer.

A Monopolistically Competitive Market Can Also Be