The monopoly aspect of monopolistic competition is that there is only one seller.

Name: The monopoly aspect of monopolistic competition is that there is only one seller.
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Question

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Monopolistic competition involves multiple sellers in the market, but each seller offers a slightly differentiated product. While each seller has some degree of pricing power for their unique product, they do not have the ability to control the entire market as in a monopoly.

The Monopoly Aspect of Monopolistic Competition Is That There Is