Restaurants, video rental stores, clothing stores, and music stores are examples of industries in which firms differentiate their products by offering them at more locations. This is an example of a ________ market.

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Monopolistically competitive markets are characterized by firms offering differentiated products or services, meaning that they have some degree of market power and can charge slightly different prices. In this case, the firms differentiate their products by offering them at different locations, giving them some market power and making it a monopolistically competitive market. Perfectly competitive markets have identical products offered by numerous firms, monopolies have a single firm dominating the market, and oligopolies have a few firms dominating the market.

Restaurants, Video Rental Stores, Clothing Stores, and Music Stores Are