who sets the price in a monopolistic competition?\no producers and consumers\no consumers only\no…
who sets the price in a monopolistic competition?\no producers and consumers\no consumers only\no government\no producers only
Answer
Brief Explanations:
In monopolistic competition, producers have some control over price due to product differentiation, but consumers' demand also influences price. So both producers and consumers play a role in setting the price.
Answer:
producers and consumers