If competitive market circumstances are such that there is almost no price competition, no product differentiation, and the only advertising informs prospects that the product is available, then the competitive market in this industry must be
A) a pure monopoly.
B) pure competition.
C) an oligopoly.
D) monopolistic competition.
E) monopolistic oligopoly.

Question

Quizplus · Accepted Answer

In a purely competitive market, there is no price competition or product differentiation, and advertising is only used to inform consumers about product availability.

If Competitive Market Circumstances Are Such That There Is Almost