Which of the following is true of the pricing in a market of monopolistic competition?
A) No single firm can grow large enough to influence prices across the market.
B) Firms that excel in one or more aspects can gain some control over pricing.
C) All firms have considerable control over pricing.
D) Suppliers have total control over the pricing of products.
E) Prices are set by government mandate.

Question

Quizplus · Accepted Answer

B) In a market characterized by monopolistic competition, firms that excel in one or more aspects can gain some control over pricing.

Which of the Following Is True of the Pricing in a Market