Standardized products can appear:
A) only in perfectly competitive markets.
B) in perfectly competitive and monopolistically competitive markets.
C) in monopolistically competitive and oligopoly markets.
D) in perfectly competitive and oligopoly markets.

Question

Quizplus · Accepted Answer

Standardized products are identical or very similar products offered by different firms, which is a characteristic of perfectly competitive markets and can also be found in oligopoly markets where a few firms dominate and may offer similar products.

Standardized Products Can Appear