Question

Assertion (A): Product differentiation is the main feature of monopolistic competition.

Reasoning (R): Under monopolistic competition, all the products are perfect substitutes to each other

Options

• (A) is True but (R) is False.

• (A) is False but (R) is True.

• Both (A) and (R) are True and (R) is the correct explanation of (A).

• Both (A) and (R) are True and (R) is not the correct explanation of (A).

Answer 1

(A) is True but (R) is False.