What type of market exhibits product differentiation?

Question

Quizplus · Accepted Answer

Monopolistic competition is a market structure in which firms sell products that are similar but not identical, meaning there is product differentiation. In perfect competition, all firms sell identical products, while in a monopoly, there is only one seller in the market. Oligopoly can exhibit product differentiation but not necessarily, as it depends on the specific industries and products involved.

What Type of Market Exhibits Product Differentiation