Which of the following goods is most likely to be associated with monopolistic competition?
A)Gasoline
B)Milk
C)Cookies
D)Wheat

Question

​Which of the following goods is most likely to be associated with monopolistic competition?
A)​Gasoline
B)​Milk
C)​Cookies
D)​Wheat

Quizplus · Accepted Answer

Cookies are most likely to be associated with monopolistic competition as this market structure is characterized by a large number of firms producing differentiated products that are close substitutes for each other. Cookies can have various brands, flavors, and shapes, which creates product differentiation and allows firms to have some control over pricing. Gasoline, milk, and wheat are more likely to be associated with other market structures, such as oligopoly or perfect competition, depending on the specifics of the market.

​Which of the Following Goods Is Most Likely to Be

Which of the Following Goods Is Most Likely to Be