Q.The unique feature of Monopolistic competition is

The statement is incorrect; a single seller with many buyers is monopoly, not monopolistic competition. Correct statement: 'In monopoly there is a single seller and large number of buyers.'

The market forms differ in the number of sellers:

• Monopoly means a single seller of a product that has no close substitutes, facing a large number of buyers. The monopolist has full control over supply and strong control over price.
• Monopolistic competition means a large number of sellers each producing a differentiated (slightly different) product — for example, different brands of soap or toothpaste. Each seller has limited control over price because of close substitutes, and there is free entry and exit. …

The correct answer is (c) Product differentiation.

This is a market-structure item in CHSE Odisha +2 Business Economics.

• Single seller (a) and barriers to entry (d) are features of monopoly, not monopolistic competition, which has many sellers and free entry/exit.
• Single price (b) characterises perfect competition, where a uniform market price prevails for a homogeneous product. …