Multiple choice

Restaurants and beauty shops are an example of which of the following?

  1. Pure competition<o:p></o:p>

  2. Monopolistic competition<o:p></o:p>

  3. Oligopoly<o:p></o:p>

  4. Monopoly<o:p></o:p>
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Restaurants and beauty shop are an example of monopolistic competition as in this case many competitors are able to differentiate their products and services and hence, charge a premium price for it.

Keep practicing — related questions