ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following characteristics does a monopolistic competition market have that a pure competition market does not?
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Identical Products
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Differentiated Products
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Well Informed Buyers and Sellers
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Large Number of Buyers and Sellers
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Explanation:
Detailed explanation-1: -Products in monopolistic competition are close substitutes; the products have distinct features, such as branding or quality. This is unlike both a monopolistic market, where there are no substitutes for products, and perfect competition, where the products are identical.
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