Dozens of regional,private brands of peanut butter compete with national brands like Skippy and Jif.In this type of market,
A)both price competition and nonprice competition exist.
B)these firms must maintain local customer loyalty.
C)these private brands must go head-to-head or steal market share from nationally recognized brands.
D)these private brands must keep other regional businesses from entering the market.
E)these private brands could avoid cannibalization if they sell their product both in stores and online.

Question

Quizplus · Accepted Answer

Dozens of regional,private brands of peanut butter compete with national brands like Skippy and Jif.Both price competition (regional,private brands being lower than national brands)and nonprice competition (product features and advertising)exist.This is an example of monopolistic competition.

Dozens of Regional,private Brands of Peanut Butter Compete with National