Under _____ competition, many sellers sell differentiated products that serve similar purposes.
A) monopolistic
B) perfect
C) capitalistic
D) free market

Question

Quizplus · Accepted Answer

In monopolistic competition, there are many sellers that sell differentiated products, which means each seller has some control over the price of their product due to the uniqueness of the product. This type of competition is different from perfect competition, where there are many sellers who sell identical products and have no control over the price. Capitalistic competition and free market competition are more broad concepts that can encompass different types of competition, including monopolistic competition.

Under _____ Competition, Many Sellers Sell Differentiated Products That Serve