Asked by Narghis Hashimi on Jul 25, 2024
Verified
A local fitness center is an example for which type of competition?
A) Pure competition
B) Monopolistic competition
C) An oligopoly
D) Monopoly
Monopolistic Competition
A market structure where many companies sell products that are similar but not identical, allowing for competition on factors other than just price, such as branding and quality.
- Differentiate the various competitive structures within markets.
Verified Answer
CB
Cindy BosséJul 26, 2024
Final Answer :
B
Explanation :
A local fitness center typically operates in a monopolistic competition market structure. This is because there are many fitness centers, each offering slightly different services, facilities, or pricing, allowing them to differentiate themselves from competitors.
Learning Objectives
- Differentiate the various competitive structures within markets.
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