Answer:
b. is imperfectly competitive, but not all imperfectly competitive markets are monopolistically competitive.
Explanation:
Monopolistic competition -
It refers to the industry where many firms offer services and goods which are similar , but not exactly the perfect substitutes , is known as Monopolistic competition .
There is very low barrier for the entry or exit in the Monopolistic competitive industry .
It is a business strategy of the brand differentiation .
hence , the correct statement for the monopolistically competitive market is ( b. ) .
