Q92
The situation of monopolistic competition is created by
A.
Small number of producers of a commodity
B.
Lack of homogeneity of the product produced by different firms
C.
Imperfection of the market for that product
D.
All of the above
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
The situation of monopolistic competition is created by Small number of producers of a commodity, Lack of homogeneity of the product produced by different firms and Imperfection of the market for that product.