alleryMatch substitute rank: 1. Pure: p. Identical 2. Close: q. MC goods 3. Unique: r. No rival
A1-p, 2-q, 3-r
B1-p, 2-r, 3-q
C1-q, 2-p, 3-r
D1-r, 2-p, 3-q
Answer & Solution
Correct answer: A. 1-p, 2-q, 3-r
Products are perfect substitutes in perfect competition, close substitutes in monopolistic competition, and have no close substitutes in monopoly.
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