If competitive market circumstances are such that there is no price competition, no product differentiation, and the purpose of advertising is to increase demand for the product class, then ________ must exist in the industry.
A) an oligopoly
B) monopolistic competition
C) a pure monopoly
D) pure competition
E) oligopolistic competition

Question

Quizplus · Accepted Answer

A pure monopoly is the only market structure that meets all three conditions: no price competition, no product differentiation, and the purpose of advertising is to increase demand for the product class.

If Competitive Market Circumstances Are Such That There Is No