Define monopolistic competition
Monopolistic competition is a market structure where many producers of somewhat different products compete with one another. There are many industries in the United States, particularly in retailing, which are monopolistically competitive.
Economics
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When one company is the sole seller of certain products in a market, it is called a
A) conglomerate. B) monopoly. C) government exclusive. D) manipulation of the market.
Economics
If real Gross Domestic Product (GDP) is $6 trillion, then unplanned business inventories will
A) rise. B) be zero. C) fall. D) be equal to planned inventories.
Economics