In a market with ________ there are many firms providing differentiated products.

A) pure competition
B) oligopolistic competition
C) monopolistic competition
D) a monopoly
E) a duopoly

Monopolistic Competition

A market structure combining elements of monopoly and competitive markets, where many sellers offer slightly differentiated products.

Differentiated Products

Goods or services that are distinguished from others in the market by unique features, quality, or brand.

Pure Competition

Occurs when different companies sell commodity products that consumers perceive as substitutable; price usually is set according to the laws of supply and demand.