Monopolistically competitive markets and oligopolies are similar in that
A) the number of firms is identical.
B) the kinked demand curve can be used to analyze the firms' pricing decisions.
C) there is mutual interdependence amongst the firms.
D) nonprice competition is a tool used.

Question

Quizplus · Accepted Answer

Both monopolistically competitive markets and oligopolies use nonprice competition, such as advertising and product differentiation, to attract customers.

Monopolistically Competitive Markets and Oligopolies Are Similar in That