Differentiated products is a characteristic of :

(a)Monopolistic competition only

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(b)Oligopoly only

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(c)Both monopolistic competition and oligopoly

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(d)Monopoly

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Solution

The correct option is C
(c)Both monopolistic competition and oligopoly

In monopolistic competition and oligopoly the firms involved sell products that are not the perfect substitute but close substitutes of each other. Therefore, the products are differentiated in their characteristics.
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Hence, option (C) is correct.

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