Although all casual clothing ultimately provides the same purpose, companies such as The Gap strive to make their brand seem unique from the many other brands available in the market.The market for casual clothing can best be characterized as _____.

Question

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The market for casual clothing can best be characterized as monopolistic competition. This is because there are many firms in the market and they offer differentiated products, but entry into the market is not difficult. The Gap is one example of a firm that tries to differentiate its products through its branding and marketing efforts.

Although All Casual Clothing Ultimately Provides the Same Purpose, Companies