In this type of industry or selling environment, firms produce a product or service with very close substitutes so that they very elastic demand, they have many rivals and no cost advantages with no entry or exit barriers. This is the selling environment known as

In this type of industry or selling environment, firms produce a product or service with very close substitutes so that they very elastic demand, they have many rivals and no cost advantages with no entry or exit barriers. This is the selling environment known as

In this type of industry or selling environment, firms produce a product or service with very close substitutes so that they very elastic demand, they have many rivals and no cost advantages with no entry or exit barriers. This is the selling environment known as



a) Monopoly
b) Monopolistic competition
c) Oligopoly
d) Perfect competition.



ANS D


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