Which Market Structure Has a Strong Incentive for Product Development

question 172

Multiple Choice

Which market structure has a strong incentive for product development and differentiation?

• A) monopolistic competition
• B) pure competition
• C) pure monopoly
• D) oligopoly

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Definitions:

Military Junta

A government led by a committee of military leaders, often established after a coup d'état, ruling without constitutional legitimacy.

Military Coup

An illegal and sudden overthrow of a government by the military or a part of the armed forces, often resulting in a change of political power.

Totalitarian System

A political system in which the state holds total authority over society and seeks to control all aspects of public and private life.

State-controlled Security

Security and protection services provided and regulated by the government to ensure public safety and national defense.