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Vlada [557]
3 years ago
13

When businesses can promote different features of their products and consumers are willing to pay more for products containing t

he features they desire, the competitive environment is probably
Business
1 answer:
pychu [463]3 years ago
8 0

Answer:

Monopolistic competition can promote different features of their products and consumers are willing to pay more for products containing the features that they desire.

Explanation:

  • Here many firms create similar products but they are not a substitute of any other.
  • This combines monopoly and competitive market
  • It is a form of "imperfect competition"
  • This has emerged because the product developed by different people target the same set of audience by providing few differentiation.

Examples of monopolistic competition:

  • The restaurant business
  • Consumer services
  • General specialist retailing
  • Hotels / Pubs.\

Advantages:

  • Greater ability to fund
  • Research & Development

Disadvantage:

  • Higher price
  • Fewer incentives
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Linda Perkins (64) shared a home all year with her son, Dennis (41), and Dennis’s son, Chase (20). Linda and Dennis worked full
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3 years ago
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3 years ago
Which career pathways contain the highest level of education required, and which contain the lowest?
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The two fields with the highest educational requirements would need at least a Bachelor’s degree for an entry level position, while latter two fields would just need a high school diploma.

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