Final answer:
Ross Stores operates in a monopolistic competition market, which is characterized by many firms selling differentiated products, as opposed to a monopoly, oligopoly, or perfect competition.The correct option is 4.
Step-by-step explanation:
The student has asked about Ross Stores, which buys finished products and then sells them at a profit, and which type of market it belongs to. The options provided include monopoly, oligopoly, perfect competition, and monopolistic competition.
Based on the information provided, Ross Stores operates in a monopolistic competition market. This type of market features a large number of firms selling differentiated but similar products. Retail environments such as the Mall of America, where various stores sell different types of clothing to men and women, exemplify monopolistic competition.
Unlike perfect competition, where products are identical, or an oligopoly, where a few firms dominate the market, monopolistic competition has many firms with differentiated products. It also lacks the high barriers to entry that are characteristic of an oligopoly, and it does not have the single firm dominating the market like in a monopoly.
Therefore, the correct option for the final answer is 4) Monopolistic Competition.