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26 November, 18:28

Which market structure predominantly uses product differentiation to attract consumers?

A. Oligopoly

B. Perfect competition

C. Monopoly

D. Monopolistic competition

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Answers (1)
  1. 26 November, 18:34
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    The question is asking which market structure predominantly uses product differentiation to attract consumers? and the answer is D. Monopolistic competition. An example of monopolistic competition is the market for higher education. Harvard and MIT have different courses so they provide different products, but they compete over the same students. This is monopolistic competition.
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