Which of the following statements is not correct?
A)Novels are likely to be produced in a monopolistically competitive industry.
B)Cable television is likely to be produced in a monopoly industry.
C)Milk is likely to be produced in a monopolistically competitive industry.
D)Cigarettes are likely to be produced in an oligopoly industry.

Question

Quizplus · Accepted Answer

Milk is typically produced in a perfectly competitive industry, not a monopolistically competitive one, due to the homogeneity of the product and the large number of producers.

Which of the Following Statements Is Not Correct