Answer and explanation:
I) Number of firms?
The correct answer is letter "C": many.
II) Type of product?
The correct answer is letter "D": Differential.
III) Market Model?
The correct answer is: monopolistic competition.
There is monopolistic competition in markets that have several competitors selling similar goods and services. Restaurants, grocery stores, and clothing shops, for instance. Those similar goods and services are not ideal substitutes for each other in monopolistic competition. Barriers to entry and exit in these industries are low, and decisions taken by one company have no direct impact on its competitors.
Thus, in the case, as there are several colleges offering relatively similar careers but with differentiated methodologies and programs, they form a monopolistic competitive market.
