Question

Match the characteristics with their market structure:
(a) Differentiated products, but close substitutes for consumers so their demand curves are elastic
(b) Homogeneous product, all goods are perfect substitutes for consumers
A) (a) Monopolistic Competition, (b) Pure Competition B) (a) Monopolistic Competition, (b) Pure Monopoly C) (a) Pure Monopoly, (b) Pure Competition D) (a) Pure Monopoly, (b) Pure Competition

Answer 1

Answer:

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