Under , the market consists of many buyers and sellers trading over a range of prices rather than a single market price.
A) a pure monopoly
B) pure competition
C) oligopolistic competition
D) a pure monopsony
E) monopolistic competition

Question

Quizplus · Accepted Answer

Monopolistic competition is characterized by many buyers and sellers trading over a range of prices because products are differentiated, allowing for some price variation.

Under , the Market Consists of Many Buyers and Sellers