which of the following statements about regulation of a monopolistically competitive market is true?
(A). It is easier to regulate a monopolistically competitive market than a monopoly
(B). Regulation of monopolistically competitive markets has steadily increased over the past 50 years
(C). It is more difficult to regulate a monopolistically competitive market than a monopoly.
(D). Regulation of monopolistically competitive markets is very common in the United States today

Question

23-11-2022
Business

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which of the following statements about regulation of a monopolistically competitive market is true?
(A). It is easier to regulate a monopolistically competitive market than a monopoly
(B). Regulation of monopolistically competitive markets has steadily increased over the past 50 years
(C). It is more difficult to regulate a monopolistically competitive market than a monopoly.
(D). Regulation of monopolistically competitive markets is very common in the United States today

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ashishdwivedilVT ashishdwivedilVT · Answer 1 · 2022-12-07T08:44:08+01:00

In monopolistic competition, a corporation accepts the prices set by its competitors as given and pays no attention to how its own prices affect those of its rivals. Hence option C is correct .

What is Monopolistically Competitive Market ?

A form of imperfect competition known as monopolistic competition pits numerous producers against one another while still providing goods that are distinguishable from one another (for example, by branding or quality) and are thus not exact substitutes.

In monopolistic competition, a corporation accepts the prices set by its competitors as given and pays no attention to how its own prices affect those of its rivals.

Monopolistic competition will turn into a government-granted monopoly if this occurs in the face of a coercive government. Large cities have ls, apparel, footwear, and service industries.

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