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In what way does monopolistic competition favor consumers?

goji.go

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10 years ago

In what way does monopolistic competition favor consumers?

In what way does monopolistic competition favor consumers?
A) A limited number of sellers differentiate their products or services by offering better quality items and/or greater incentives to purchase them.
B) A large number of sellers providing virtually identical products means that no single seller can set the price.
C) A large number of sellers and products increases supply of similar, but not identical, products and services, so to increase demand sellers are likely to reduce prices.
D) A single seller or provider ensures consistency of product quality and regulated pricing.
E) A large number of sellers of virtually identical products means that no single seller can set the price for these products.

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Diesel

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bbb

wrote...

#1

10 years ago

C) Monopolistic competition is characterized by a market in which there are a large number of sellers providing similar goods to consumers whose purchasing choices are based on perceived differences between them. Price is often the distinction.

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bio_man

goji.go Author

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#2

10 years ago

Thanks

Smiling Face with Open Mouth

6 Votes

lindsayjoye, helic216, ScienceBoy1990, scraps, simonsam, jlawrence

Diesel

bbb

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#3

10 years ago

Glad to help, mark it solved!

Answer accepted by topic starter

Ichaso

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9 years ago

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