Question
Which aspect of monopolistic competition gives consumers more choice?
Producers rely on consumer decisions to succeed.
Price is not an important factor.
Few barriers to market entry exist.
Producers are more concerned about selection than profits.
Producers rely on consumer decisions to succeed.
Price is not an important factor.
Few barriers to market entry exist.
Producers are more concerned about selection than profits.
Answers
GPT-4o mini
In monopolistic competition, the aspect that gives consumers more choice is:
**Few barriers to market entry exist.**
This characteristic allows numerous firms to enter the market, which leads to a diversity of products and services being offered. As a result, consumers have a wider range of choices available to them.
**Few barriers to market entry exist.**
This characteristic allows numerous firms to enter the market, which leads to a diversity of products and services being offered. As a result, consumers have a wider range of choices available to them.