There would be some control over price within rather narrow limits in which market model?

Question

Quizplus · Accepted Answer

In monopolistic competition, there are several firms competing against each other in a market with similar products but differentiated based on some features, such as branding or packaging. As a result, each firm has some degree of pricing power, but they are still constrained by the competition. Therefore, there would be some control over price within rather narrow limits in monopolistic competition.

There Would Be Some Control Over Price Within Rather Narrow