Choose the market structures that have a product differentiation.
Monopolistic competition and monopoly
Monopolistic competition and oligopoly
Monopoly and oligopoly
Perfect competition and monopoly
Ans. B) monopolistic competition and oligopoly
Monopolistic comepetion and differentiated oligopoly are the market structures that have a product differentiation which gives them a market power to influence the price and quantity in the market above the other firms in the comepetitions and capture the most of the customers because of the differentiate of the product.
In perfect competition, each firm is sold the same kind of product.
In monopolist market stucture, there is only single firm in the market to sell its product.
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