Answer:
D. bookbags.
Step-by-step explanation:
Monopolistic competition is a market structure characterized by many sellers offering differentiated products to a large number of buyers. In this type of market, each seller has some degree of control over the price of their product due to its unique features or branding.
Out of the options given, bookbags best exemplify monopolistic competition. Bookbags come in various styles, sizes, and designs from different brands. Each brand tries to differentiate its product by offering unique features, such as additional pockets, durability, or fashionable designs. This product differentiation allows consumers to have a range of choices when purchasing a bookbag.
In contrast, the other options do not fit the characteristics of monopolistic competition:
A. Oranges: Oranges are typically considered a commodity, meaning they are relatively uniform in quality and not easily differentiated. In a competitive market, many sellers offer the same product, and buyers typically make their purchasing decisions based on factors like price or convenience.
B. Bus tickets: Bus tickets are usually sold by a single transit authority or company, giving them a monopoly or near-monopoly power in the local area. Therefore, this market does not fit the definition of monopolistic competition.
C. Electricity: Electricity markets often operate as regulated monopolies, with a single provider or a limited number of providers in a specific region. Consumers typically do not have multiple options for electricity suppliers, so this market does not fit the characteristics of monopolistic competition.
In conclusion, out of the options provided, bookbags best represent monopolistic competition due to the availability of differentiated products from various brands.