Question 16 of 36
Q.Which of the following is a feature of monopolistic competition ?
(a) Product differentiation
(b) One seller
(c) No entry
(d) Few sellers
Puducherry TnboardTamil Nadu HSC First Year (DGE) Commerce Board 2022MCQ· 1mImportance★★★★★
44% · 16/36 Questions
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Start your 14-day free trial to unlock the full solution →Product differentiation is a feature of monopolistic competition.
Monopolistic competition is a market with a large number of sellers who sell products that are close substitutes but not identical — they differ in brand, quality, packaging or design. This product differentiation gives each firm some limited control over price. 'One seller' describes monopoly, 'few sellers' describes oligopoly, and 'no entry' is a barrie …
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