Question

ECONOMICS

what is a monopolistic competition?

A.) a very few companies selling identical products

B.) one company selling several different products under different names

C.) one company selling identical product under different names

D.) many companies selling similar but not identical products

Answer 1

Monopolistic competition

Step-by-step explanation:

Monopolistic competition occurs when an industry has many firms offering products that are similar but not identical. Unlike a monopoly, these firms have little power to set curtail supply or raise prices to increase profits.

Answer 2

A "monopolistic competition" consists of multiple companies selling similar but not identical products. The answer is "D".