Question

HELP!! WILL GIVE MEDAL!!
A major characteristic of monopolistic competition is that prices will be

A. higher than in perfect competition.

B. lower than in perfect competition.

C. higher than in a true monopoly.

D. unrelated to the type of competition.

I am thinking the answer is A

Answer 1

@Nurali @rose21

Answer 2

A

Answer 3

a is correct

Answer 4

if you think about it, its basically another term for imperfect competition

Answer 5

this is of course a term which denotes the following definition:

"the situation prevailing in a market in which elements of monopoly allow individual producers or consumers to exercise some control over market prices."

Answer 6

now, if you take this into consideration, you arrive at the postulation that option A is correct

Answer 7

such would be a sound aspersion