monopolistic competition is the market structure characterized by many small firms selling somewhat different products.
monopolistic competition is 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
section::::basic microeconomic concepts.:market structure.:imperfect competition.









































in economic theory, imperfect competition is a type of market structure showing some but not all features of competitive markets.









































section::::basic microeconomic concepts.:market structure.:monopolistic competition.









































monopolistic competition is a situation in which many firms with slightly different products compete. production costs are above what may be achieved by perfectly competitive firms, but society benefits from the product differentiation. examples of industries with market structures similar to monopolistic competition include restaurants, cereal, clothing, shoes, and service industries in large cities.









































section::::basic microeconomic concepts.:market structure.:monopoly.
microeconomics
section::::basic microeconomic concepts.:market structure.









































market structure (or market form) refers to features of a market, including the number of firms in the market, the distribution of market shares between them, product uniformity across firms, how easy it is for firms to enter and exit the market, and forms of competition in the market. a market structure can have several types of interacting market systems. 









































different forms of markets are a feature of capitalism and market socialism, with advocates of state socialism often criticizing markets and aiming to substitute or replace markets with varying degrees of government-directed economic planning.
microeconomics