Transcribed Image Text: There are many sellers of blue jeans

Transcribed Image Text: There are many sellers of blue jeans. Each blue jean seller makes their product slightly different to set it apart
from others. There is free entry and exit into the blue jean market. Which market structure does this describe?
O a. Oligopoly
O b. Monopolistic Competition
O c. Monopoly
O d. Perfect Competition
From the following, which statement is CORRECT about the production possibility concept?
O a. It shows combinations of two products
O b. If one product is produced more, the other product will be less
O c. All of these
O d. It shows the best use of the resources

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