The Case in Point on Craft Brewers suggested that this industry is an example of:
A) perfect competition.
B) monopolistic competition.
C) oligopoly.
D) monopoly.

Question

Quizplus · Accepted Answer

The craft brewing industry is an example of monopolistic competition. While there are many brewers in the industry, each has their own unique product and branding, which allows for differentiation. However, there are still barriers to entry and a degree of market power held by larger craft breweries. This fits the characteristics of monopolistic competition.

The Case in Point on Craft Brewers Suggested That This