_____ is a market structure in which a large number of firms compete vigorously with each other in producing and selling different varieties of a basic product.

Question

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Monopolistic competition is a market structure in which there are many firms selling differentiated products that are close substitutes. This means that while firms have some control over the price of their product, they still face competitive pressures from other firms selling similar products. This competition drives innovation and product differentiation, as firms try to set their products apart from their competitors.

_____ Is a Market Structure in Which a Large Number