How do monopolistic competitors try to make their products stand out?

Question 12 options:

They lower their prices.

They raise their prices.

They use nonprice competition such as advertising.

They maximize profits.

Question

Business

Emilio Lutz

3 March, 22:46

How do monopolistic competitors try to make their products stand out?

Question 12 options:

They lower their prices.

They raise their prices.

They use nonprice competition such as advertising.

They maximize profits.

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Answers (1)

Know the Answer?

Gracelyn Keith · Answer 1

They use non-price competition such as advertising

Explanation:

Monopolistic competition portrays an industry where numerous organizations offer items or administrations that are comparable, however not immaculate substitutes. Hindrances to section and exit in a monopolistic focused sector are low, and the choices of anybody firm don't legitimately influence those of its rivals. Monopolistic competition is firmly identified with the business technique of brand separation.

Monopolistic competition is a type of rivalry that portrays various ventures that are well-known to purchasers in their everyday lives. Models incorporate eateries, hair salons, attire, and buyer hardware.

How do monopolistic competitors try to make their products stand out?Question 12 options:They lower their prices.They raise their prices.They use nonprice competition such as advertising.They maximize profits.

How do monopolistic competitors try to make their products stand out?

Question 12 options:

They lower their prices.

They raise their prices.

They use nonprice competition such as advertising.

They maximize profits.