On South Street in Philadelphia,there are many Italian restaurants.Each Italian restaurant carries a slightly different menu.In what type of market structure do these Italian restaurants belong?

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The Italian restaurants on South Street in Philadelphia belong to monopolistic competition. Monopolistic competition is a market structure with many small firms competing against each other. Each firm is slightly different in terms of the products or services they offer, advertising, and pricing. While the Italian restaurants have the same niche in offering Italian cuisine, they have slightly different menus and pricing. The competition between them drives innovation and differentiation, making each restaurant unique.

On South Street in Philadelphia,there Are Many Italian Restaurants