In a monopolistically competitive market, there

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Monopolistically competitive markets have many firms that produce slightly different products, which means that each firm has some degree of control over the price they charge. This is because consumers may be willing to pay more for a slightly different product if they perceive it as having a better value or quality. However, there are no substantial barriers to entry, so firms can enter or exit the market relatively easily.

In a Monopolistically Competitive Market, There