Thanh owns a shoe store.In this market,there are many firms competing for the same customers,but the products offered differ by quality and price.Out of the four levels of competition,which one does this market represent?
A) Monopolistic competition
B) Pure competition
C) Oligopolistic competition
D) Monopoly
E) Dominant competition

Question

Quizplus · Accepted Answer

The presence of multiple firms competing for the same customers with slightly differentiated products based on quality and price is a defining characteristic of monopolistic competition.

Thanh Owns a Shoe Store