Monopolistic competition is categorized as an industry with few sellers and no competition.

Name: Monopolistic competition is categorized as an industry with few sellers and no competition.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Monopolistic competition is a market structure where there are many sellers but they offer differentiated products which gives them some degree of market power. Therefore, there is competition among firms, but not perfect competition.

Monopolistic Competition Is Categorized as an Industry with Few Sellers