CHAPTER 3.4 | MONOPOLISTIC COMPETITION
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CHAPTER 3.4 | MONOPOLISTIC COMPETITIONMonopolistic
CHAPTER 3.4 | MONOPOLISTIC COMPETITION
Monopolistic Competition refers to a market structure with a relatively large number of vendors selling similar but not identical goods. Monopolistic competition is when the market is competitive, but it has some monopoly features. In this type of business, several companies offer highly differentiated goods. A monopoly rivalry is thus a business system in which there is no coordination between the many sellers. Handheld appliances, cosmetics, detergents, forms of toothpaste, fast food restaurants, clothing stores, etc., are examples of this industry category.
Monopolistic Competition refers to a market structure with a relatively large number of vendors selling similar but not identical goods. Monopolistic competition is when the market is competitive, but it has some monopoly features. In this type of business, several companies offer highly differentiated goods. A monopoly rivalry is thus a business system in which there is no coordination between the many sellers. Handheld appliances, cosmetics, detergents, forms of toothpaste, fast food restaurants, clothing stores, etc., are examples of this industry category.
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