Question

Which of the following scenarios is an example of monopolistic competition?

A. Customers can choose among a limited number of Internet providers.
B. Only one company offers bus service to the town.
C. A new pizza shop promotes a unique new flavor of ice cream.
D. The price of silver rises due to an increase in consumer demand.

Answer 1

i think it is A or D

Answer 2

@Awolflover1

Answer 3

monopolistic competition
A market structure characterized by many producers of a product that can be slightly differentiated, allowing for a small amount of price-setting ability.
Examples: fast-food restaurants or clothing stores.

Answer 4

^ Yes Correct

What do you think now?

Answer 5

A?

Answer 6

''Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes''

https://en.wikipedia.org/wiki/Monopolistic_competition

Answer 7

so C is the answer?

Answer 8

Correct :)

Answer 9

okay thank you