The single most common form of competition in the U.S. is
A) perfect competition among firms with differentiated products.
B) monopolistic competition among firms with differentiated products.
C) oligopolistic competition in a certain market with similar products.
D) perfect competition because it displays product and allocative efficiencies.

Question

Quizplus · Accepted Answer

Monopolistic competition is the most common form of competition in the U.S. economy. It is characterized by many firms competing against each other, but each one sells a slightly different product, allowing them to have some degree of market power.

The Single Most Common Form of Competition in the U