The use of the word "monopoly" in the name of the market structure called "monopolistic competition" refers to the fact that

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The use of the word "monopoly" in the name of monopolistic competition refers to the fact that both monopolistically competitive firms and monopolists face a downward-sloping demand curve for their differentiated product, which means they have some degree of market power. However, monopolistically competitive markets have free entry and exit and firms do not produce at an inefficient scale like monopolists do. Monopolistically competitive firms also do not necessarily charge prices equal to their marginal costs.

The Use of the Word "Monopoly" in the Name of the Market