Author Question: In ________ the market is flooded with companies that sell essentially the same commodity-like ... (Read 8 times)

PhilipSeeMore · **on:** Jul 6, 2018

In ________ the market is flooded with companies that sell essentially the same commodity-like product and customer responsiveness to changes in price is high.

A) monopsony
B) monopoly
C) oligopoly
D) monopolistic competition
E) perfect competition

Question 2

Which of the following markets is most likely to display the characteristics of monopolistic competition?

A) the market for agricultural products
B) the retail trade
C) the market for steel
D) the market for household appliances
E) local utilities