In Rhode Island, there are a large number of qualified, primary-care physicians whose services are highly personalized. In addition to price, factors such as age, sex, location, and personality influence the choice of physicians. Thus, it can be said that the primary-care physician market is most probably a:

Question

Quizplus · Accepted Answer

The fact that factors other than price, such as age, sex, location, and personality, influence the choice of physicians suggests that there is product differentiation in this market. This means that the primary-care physician market is most likely a monopolistically competitive market, which is characterized by many firms selling differentiated products. The existence of a large number of qualified, primary-care physicians further supports this conclusion.

In Rhode Island, There Are a Large Number of Qualified