______________________ arises where many firms are competing in a market to sell similar but differentiated products....
______________________ arises where many firms are competing in a market to sell similar but differentiated products.
| A. |
Monopolistic competition |
|
| B |
Perfect competition |
|
| C |
Oligopolistic competition |
|
| D |
Monogopolised competition |
Homework Answers
Option A.
A monopolistically competitive market structure consists of large number of firms selling similar products that are slightly differentiated from the products ofother firms.
These firms are said to be price makers as they can set their own prices for their goods and services.
This market structure has no barriers to entry or exit thereby allowing firms to enter or exit the market freely.
Add Answer to:
______________________ arises where many firms are competing in
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