<P> 1 . Monopolistic competition , a type of imperfect competition such that many producers sell products or services that are differentiated from one another ( e.g. by branding or quality ) and hence are not perfect substitutes . In monopolistic competition , a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other . This market structure exists when there are multiple sellers who are attempting to seem different than each other . </P>
<P> 1 . Monopolistic competition , a type of imperfect competition such that many producers sell products or services that are differentiated from one another ( e.g. by branding or quality ) and hence are not perfect substitutes . In monopolistic competition , a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other . This market structure exists when there are multiple sellers who are attempting to seem different than each other . </P>
identify the market structure characterized by many small firms selling somewhat different products
identify the market structure characterized by many small firms selling somewhat different products
Monopolistic competition
Monopolistic competition