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Sagot :
The goal of product differentiation and advertising in monopolistic competition is to make price less of a factor and product differences more of a factor in consumer purchases.
What is monopolistic competition?
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. A monopolistic competition sets the price for its goods and services. An example of monopolistic competition are restaurants
Here are the options:
O The firm allocatively efficient even if it is not productively efficient
O The firm productively efficient even if it is not allocatively efficient
O Price less of a factor and product differences more of a factor in consumer purchases
O Price more of a factor and product differences less of a factor in consumer purchases
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