Product variety is likely to be greater in

A) monopolistic competition than in pure competition.
B) pure competition than in monopolistic competition.
C) homogeneous oligopoly than in monopolistic competition.
D) homogeneous oligopoly than in differentiated oligopoly.

Question

Patrick Hernandez · Accepted Answer

Final Answer : A, Explanation :  In monopolistic competition, there are many firms that compete on product quality, price, and marketing, leading to a greater variety of products for consumers compared to pure competition, where products are largely homogeneous.

Product variety is likely to be greater in

A) monopolistic competition than in pure competition.
B) pure competition than in monopolistic competition.
C) homogeneous oligopoly than in monopolistic competition.
D) homogeneous oligopoly than in differentiated oligopoly.

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Learning Objectives

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Product variety is likely to be greater inA) monopolistic competition than in pure competition.B) pure competition than in monopolistic competition.C) homogeneous oligopoly than in monopolistic competition.D) homogeneous oligopoly than in differentiated oligopoly.

Definitions

Learning Objectives

Learning Objectives

Related questions

Product variety is likely to be greater in

A) monopolistic competition than in pure competition.
B) pure competition than in monopolistic competition.
C) homogeneous oligopoly than in monopolistic competition.
D) homogeneous oligopoly than in differentiated oligopoly.