Firms in monopolistically competitive markets can differentiate their products on the basis of:

Name: Firms in monopolistically competitive markets can differentiate their products on the basis of:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Firms in monopolistically competitive markets can differentiate their products on the basis of any or all of the options mentioned above – brand identity, quality, convenience, and product guarantees. This differentiation allows firms to charge a slightly higher price and capture a loyal customer base.

Firms in Monopolistically Competitive Markets Can Differentiate Their Products on the Basis