Jeffrey's mom specifically asked for a cip cast iron pan for her birthday. as jeffrey scanned the stock in two department stores, he found ten different brands, none of which were cip. when he found cip in a kitchen specialty shop, he was challenged to tell the difference between his mom's choice and the others. he was reminded of his business class, in which he learned about competition, where many sellers may be offering very similar products. through various means, each seller differentiates his product from the competition.(a) oligopolistic competition(b) limited competition(c) perfect competition(d) monopolistic competition

(D) monopolistic competition

Explanation:

This is an example of monopolistic competition. Monopolistic competition refers to a particular industry where many products and services are similar. However, none of them are perfect substitutes. The approach that these producers take is to try to differentiate their product in order to be able to achieve more sales. However, these producers generally have little power to curtail supply or raise prices.

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o