What is the difference between pure competition and monopolistic competition?
A) minimal, as the conditions for each are quite similar.
B) under pure competition there are many sellers and the product is homogeneous
C) while there are many sellers, there is some differentiation in the product
D) not as great as there are with an oligopoly

Question

Quizplus · Accepted Answer

Under pure competition, there are many sellers offering a homogeneous product, whereas in monopolistic competition, products are differentiated.

What Is the Difference Between Pure Competition and Monopolistic Competition