Difference between revisions of "Monopolistic competition"
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(New page: Monopolistic competition is a market structure that has a large number of firms producing similar, but not identical, products. Because the products are not identical, each firm has a kin...) |
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Revision as of 23:40, May 4, 2007
Monopolistic competition is a market structure that has a large number of firms producing similar, but not identical, products. Because the products are not identical, each firm has a kind of monopoly. This market also assumes relatively easy entry into it.