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zhuklara [117]
3 years ago
9

Monopolistic competition has which advantage compared to pure competition?

Social Studies
1 answer:
Anit [1.1K]3 years ago
4 0

Answer:

Explanation:

C

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Nationally recognized testing laboratories (NRTL) <u>test and list</u> electrical products to provide a basis for approval by inspectors in the field.

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The NRTL certificate offers unequivocal proof that your electrical and electronic products meet the specifications needed for the American market. NRTL certification helps you to quickly reach hundreds of millions of consumers by offering assurance that your products meet the safety requirements to enter the United States.

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Consumers seek <u>convenience products</u> because they can be easily, quickly, and frequently purchased.

<h3><u>What are convenience products?</u></h3>

Convenience goods are regularly and hastily purchased by consumers without much thought or emotion. Gas, candy, magazines, newspapers, and magazines are among the most often used types of convenience goods.

These items typically have a base price that doesn't differ significantly from store to store. In other words, unless the price is far more than expected, the consumer won't give it any thought.

<u>For instance, </u>someone would not be alarmed if they went to buy a gallon of milk and the price was $3. However, someone would be surprised if they went to buy a gallon of milk and were charged $10–$15 for it.

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The law of demand is one of the most fundamental concepts in economics. It works with the law of supply to explain how market economies allocate resources and determine the prices of goods and services that we observe in everyday transactions. ... In other words, the higher the price, the lower the quantity demanded.
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3 years ago
Read 2 more answers
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