Which aspect of monopolistic competition gives consumers more choice?
a) Producers rely on consumer decisions to succeed
b) Price is not an important factor
c) Few barriers to market entry exist
d) Producers are more concerned about selection than profits
The correct answer is option c) Few barriers to market entry exist
Monopolistic Market
It refers to the market under which there is more variety of goods and services are available. It is a market under which there are many sellers selling goods and services in the market. The goods and services that are available in this market help the producers to gain more.