Asked by Trinhh Ph??ngg on Jun 23, 2024
Verified
The market for dentists in most communities can be considered _____ because the market has a large number of similar but not identical dental services.
A) monopolistic competition
B) a monopoly
C) perfect competition
D) an oligopoly
Monopolistic Competition
A market structure characterized by many firms selling products that are similar but not identical, with some degree of market power.
Identical Dental Services
Dental health care services that are the same in quality and scope, offered by different providers under similar conditions.
Large Number
In economics, it often refers to the statistical benefit or reliability that comes from having a large number of events or participants.
- Recognize conditions and types of market structures including monopolistic competition, monopoly, oligopoly, and perfect competition.
Verified Answer
Learning Objectives
- Recognize conditions and types of market structures including monopolistic competition, monopoly, oligopoly, and perfect competition.
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