An industry that contains a large number of firms selling goods that are similar but not identical and into which entry of new sellers is relatively easy would be an example of

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An industry that contains a large number of firms selling goods that are similar but not identical and into which entry of new sellers is relatively easy is an example of monopolistic competition. In monopolistic competition, firms can differentiate their products to some extent, giving them some pricing power, but not enough to be considered a monopoly. Examples include the market for fast food or clothing.

An Industry That Contains a Large Number of Firms Selling