Answer :
Final answer:
In a monopolistic competition, many firms compete with differentiated products. An example of this is the automotive industry where different manufacturers produce cars that serve the same purpose but vary in design, brand, and features.
Explanation:
In the context of the question about monopolistic competition, the automotive industry (D) would be a good example. In a monopolistic competitive market, many firms compete against one another, but the goods or services they sell are not identical. In the automotive industry, there are many manufacturers producing cars that are similar in nature (they all serve the purpose of transportation), but the cars are not identical in terms of design, brand value, features etc. This gives each manufacturer a mini-monopoly over their specific brand or style of vehicles. Other examples of monopolistic competition can include industries like restaurants or clothing retailers where each firm offers a product that is distinctive in some way.
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