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Monopolistic competition (view source)

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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.
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[[Category:Economics]]
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