in a monopolistic competitive industry, firms can try to differentiate their products by

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18-10-2021
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in a monopolistic competitive industry, firms can try to differentiate their products by

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jayilych4real jayilych4real · Answer 1 · 2021-10-27T10:49:59+02:00

in a monopolistic competitive industry, firms can try to differentiate their products by:

Branding and Advertising

A monopolistic industry is one that has very little competition from other brands and as such they dominate a particular market.

As a result of this, we can see that a monopolistic industry would have different products which they sell to the public and the best and easiest way to differentiate between them is to make use of branding and advertising.

Therefore, the correct answer is Branding and Advertising.