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Monopolistic Competition

A market stru...

Question

A market structure in which many firms sell products that are similar but not identical is known as _________.

A

Monopolistic Competition

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B

Monopoly

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C

Perfect Competition

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D

Oligopoly

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Solution

The correct option is C Monopolistic Competition
Products similar but not identical means product differentiations and it is the characteristics of monopolistic competition market.

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