Which of the following products is least likely to be sold in a monopolistically competitive market ?
Correct answer: B. cotton
- A. breakfast
- B. cotton
- C. video games
- D. beer
Explanation
Cotton is a relatively homogeneous commodity with little scope for product differentiation, so it is generally associated with competitive markets. Breakfast foods, video games, and beer can be differentiated by brand, features, or quality.
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