Question

Unlike perfect competition, monopolistic competition features

A) independent buyers and sellers
B) well-informed buyers and sellers
C) real or imagined product differences
D) freedom for buyers and sellers​

Answer 1

The correct answer is A. Independent buyers and sellers.

Step-by-step explanation:

A monopoly, as the name implies means, one or single. A Monopolistic Competition involves only one supplier and buyer of goods and services thereby, being in absolute control of the market business. A perfect competition, on the other hand, involves so many suppliers and buyers of goods and services, and not a single supplier can lay claim to the absolute control of the market.

Due to the Monopolistic competition, the amount paid for goods and services is relatively high. A Perfect Competition also involves a wide range of products to purchase without restrictions.