In monopolistic competition there are many small sellers,each offering basically the same good or service.

Question

Quizplus · Accepted Answer

Monopolistic competition involves many small sellers offering differentiated products or services, meaning they are not offering basically the same good or service. This differentiation leads to each seller having a certain degree of market power and the ability to set prices to some extent.

In Monopolistic Competition There Are Many Small Sellers,each Offering Basically