In which industry is monopolistic competition most likely to be found?

Question

Quizplus · Accepted Answer

Monopolistic competition is most likely to be found in the retail trade industry. This is because there are typically many retailers selling differentiated products, such as clothing or electronics, in a given market. While there may be some brand loyalty or product differentiation, there are also many substitutes available, making it difficult for any one company to have a significant market share or monopoly power.

In Which Industry Is Monopolistic Competition Most Likely to Be