Although there are certain inefficiencies associated with monopolistic competition,society receives a benefit from monopolistic competition in the form of product variety.

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Monopolistic competition encourages firms to differentiate their products in order to attract customers, leading to a wider range of options for consumers. This variety of products can be seen as a benefit to society. However, there may still be some inefficiencies associated with monopolistic competition, such as higher prices due to less competition.

Although There Are Certain Inefficiencies Associated with Monopolistic Competition,society Receives