Which industry would be considered to be monopolistically competitive?

Question

Quizplus · Accepted Answer

Local dry cleaners would be considered to be monopolistically competitive as there are many businesses offering similar services but with slight differences in quality, location, and price. This allows for some degree of market power, but not enough for a true monopoly. Electronic computers and electric light bulbs would be considered oligopolies, as there are only a few major companies dominating the industry. Men's slacks and jeans are part of the broader apparel industry, which is highly competitive but not monopolistically competitive as there are well-established brand names and significant barrier to entry.

Which Industry Would Be Considered to Be Monopolistically Competitive