Which of the following represents a monopolistic competition?
A)One firm completely controls a broad product-market.
B)Each competitor tries to get control in its "own" target market.
C)Competitors offer the same marketing mix.
D)Different marketing mixes are nevertheless seen as the same by all customers.
E)All customers view various alternatives as substitutes.

Question

Quizplus · Accepted Answer

In monopolistic competition,different firms offer marketing mixes that at least some customers see as different.Each competitor tries to get control (a monopoly)in its "own" target market.

Which of the Following Represents a Monopolistic Competition