A) Monopolistic competition
B) Monopoly
C) Oligopoly
D) Perfect competition
✅ ANSWER: A
Product differentiation is the most important feature of Monopolistic competition. Monopolistic Competition refers to a market situation in which there are large numbers of firms which sell closely related but differentiated products.
Product differentiation is the most important feature of Monopolistic competition. Monopolistic Competition refers to a market situation in which there are large numbers of firms which sell closely related but differentiated products.