Asked by Sofiya Hoyda on Jun 03, 2024
Verified
Value in diversity refers to the idea that,by providing a variety of differentiated choices,firms in monopolistic competition provide a gain to consumers.
Value In Diversity
The benefits and increased performance derived from having a variety of different perspectives and backgrounds in a group or organization.
Monopolistic Competition
A market structure characterized by many firms selling products that are similar but not identical, leading to competition based on price, quality, and branding.
- Examine the consequences of monopolistic competition for consumer options and the variety of products offered.
Verified Answer
MM
Miriam MurilloJun 06, 2024
Final Answer :
True
Explanation :
Value in diversity is a concept in monopolistic competition where firms provide a variety of differentiated choices that provide a gain to consumers. Therefore, the statement is true.
Learning Objectives
- Examine the consequences of monopolistic competition for consumer options and the variety of products offered.