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Many firms selling close but not identical substitutes describes:
AMonotonous competition
BMonumental competition
CMonopolistic competition
DMonopolised competition
Answer & Solution
Correct answer: C. Monopolistic competition
1. Clothing and food markets work this way.
2. Firms have some control over price.
3. It is monopolistic competition.
_Source: OpenStax Introduction to Business, Chapter 1, Understanding Economic Systems and Business._
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