{"id":57404,"date":"2024-04-16T01:01:25","date_gmt":"2024-04-16T01:01:25","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=57404"},"modified":"2024-04-16T01:01:25","modified_gmt":"2024-04-16T01:01:25","slug":"which-one-of-the-following-is-a-feature-of-monopolistic-competition","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-one-of-the-following-is-a-feature-of-monopolistic-competition\/","title":{"rendered":"Which one of the following is a feature of monopolistic competition?"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Heavy advertisement&#8221; option2=&#8221;Non-price competition&#8221; option3=&#8221;Interdependent firms&#8221; option4=&#8221;Price competition&#8221; correct=&#8221;option1&#8243;]<!--more--><\/p>\n<p>The correct answer is: A. Heavy advertisement.<\/p>\n<p>Monopolistic competition is a market structure in which there are many firms selling similar but differentiated products. This means that each firm has some control over its price, but it also faces competition from other firms selling similar products. As a result, firms in monopolistic competition engage in non-price competition, such as advertising, to differentiate their products and attract customers.<\/p>\n<p>Price competition is not as common in monopolistic competition as it is in perfect competition, because firms have some control over their prices. However, firms in monopolistic competition will still compete on price to some extent, especially if they are trying to attract new customers or increase their market share.<\/p>\n<p>Interdependent firms is not a feature of monopolistic competition. In monopolistic competition, firms are not interdependent, meaning that the actions of one firm do not have a significant impact on the other firms in the market. This is because firms in monopolistic competition sell differentiated products, so they do not compete directly with each other.<\/p>\n<p>Non-price competition is a feature of monopolistic competition. In monopolistic competition, firms engage in non-price competition, such as advertising, to differentiate their products and attract customers. This is because firms in monopolistic competition have some control over their prices, but they also face competition from other firms selling similar products.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Heavy advertisement&#8221; option2=&#8221;Non-price competition&#8221; option3=&#8221;Interdependent firms&#8221; option4=&#8221;Price competition&#8221; correct=&#8221;option1&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-57404","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which one of the following is a feature of monopolistic competition?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/which-one-of-the-following-is-a-feature-of-monopolistic-competition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Which one of the following is a feature of monopolistic competition?\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Heavy advertisement&#8221; 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