Question

Product variety is likely to be greater in

a. monopolistic competition than in pure competition

b. pure competition thatn in monopolistic competition

c. homogenous oligopoly thatn in monopolistic competition

d. homogenous oligopoly than in differentiated oligopolly

Answer 1

The correct answer that would best complete the given statement above is option A. Product variety is likely to be greater in monopolistic competition than in pure competition. When we say monopolistic competition, this is a type of competition when producers sell goods that are differentiated from one another. Hope this answer helps.