Which of the Following Is Most Likely Produced in a Monopolistically

question 48

Multiple Choice

Which of the following is most likely produced in a monopolistically competitive market?

• A)restaurant meals
• B)computer chips
• C)firewood
• D)motorcycles
• E)soft drink

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Definitions:

Existing Market

A market where products or services are already available and where a business may face competition upon entry.

Product Line

A group of closely related products that are treated as a unit because of similar marketing strategy, production, or end-use considerations.