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Non-Competitive Markets — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsNon-Competitive Markets1 Mark
Question
Monopolistic competition differs from perfect competition primarily because:
  1. In monopolistic competition firms can differentiate their products.
  2. In perfect competition firms can differentiate their products.
  3. In monopolistic competition entry into the industry is blocked.
  4. In monopolistic competition there are relatively few barriers to entry.
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Answer

  1. In monopolistic competition firms can differentiate their products.

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