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:

Photosynthesis

The process by which green plants and some other organisms use sunlight to synthesize nutrients from carbon dioxide and water, producing oxygen as a byproduct.

Oxygen

A chemical element with symbol O, essential for cellular respiration in most living organisms and a major component of Earth's atmosphere.

Metabolic Pathways

Sequences of chemical reactions that occur in a cell, transforming substrates into products and energy.

Sunlight

The natural light emitted by the Sun, which is a primary energy source for Earth's climate system and necessary for photosynthesis in plants.