Question

The highest degree of product differentiation is found in which of the following type of market structure?(1 point)
Responses

monopoly
monopoly

perfect competition
perfect competition

oligopoly
oligopoly

monopolistic competition

Answer 1

The highest degree of product differentiation is found in **monopolistic competition**. In this market structure, many firms offer products that are similar but not identical, allowing for significant differentiation based on various factors such as quality, branding, and features.