Firms in monopolistically competitive markets can differentiate their products on the basis of:

Question

Quizplus · Accepted Answer

Firms in monopolistically competitive markets can differentiate their products on a range of factors such as brand identity, quality, and convenience. This differentiation allows firms to have some degree of pricing power and enables them to compete with each other despite not having a monopoly over the market. Therefore, all of the options listed in the question are correct.

Firms in Monopolistically Competitive Markets Can Differentiate Their Products on the Basis