If competitive market circumstances are such that there is almost no price competition, no product differentiation, and the only advertising that informs prospects that the product is available, then_________ must exist in this industry.
A)monopolistic competition
B)an oligopoly
C)pure competition
D)a pure monopoly

Question

Quizplus · Accepted Answer

The description given indicates that there is no product differentiation, which is a characteristic of pure competition. Additionally, the lack of price competition and presence of only informative advertising further supports the idea that this is an industry in which pure competition is present.

If Competitive Market Circumstances Are Such That There Is Almost