Difference between revisions of "Monopolistic competition"
Jump to navigation
Jump to search
(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...) |
m |
||
| Line 1: | Line 1: | ||
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. | 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. | ||
| + | |||
| + | [[Category:Economics]] | ||
Revision as of 17:29, May 17, 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.