A benefit to consumers of monopolistically competitive markets is that:
A. consumers only have to choose from one product.
B. consumers have a variety of products from which to choose.
C. goods are sold at the lowest possible average cost of production.
D. price is equal to marginal cost in equilibrium.
Answer:B
A benefit to consumers of monopolistically competitive markets is that:
A. consumers only have to choose from one product. B. consumers have a variety of products from which to choose. C. goods are sold at the lowest possible average cost of production. D. price is equal to marginal cost in equilibrium.