Economics Q63

0. Indus Manufacturing is one of many companies in an industry. Indus produces widgets which are similar to those produced by its competitors up to the point they are labeled. The labeled brand sells for £3.50 per unit. Other firms in the industry sell their products for £2.50 per unit. This industry is best characterized as:

Answer
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Option : B
Explanation : There are many competitors in the market, but there is evidence of branding and product differentiation. These are characteristics of monopolistic competition.

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