Q361
Product differentiation is the most important feature of
A.
Monopolistic competition
AnswerB.
Monopoly
C.
Oligopoly
D.
Perfect competition
Answer: Option A
Solution
Answer: Option A
Solution:
Product differentiation is the most important feature of Monopolistic competition. Monopolistic Competition refers to a market situation in which there are large numbers of firms which sell closely related but differentiated products.