Economy, asked by vk218957, 7 months ago

5. (a) What are the characteristics of monopolistic competition? How is it different from

monopoly?​

Answers

Answered by TheRiskyGuy
15

Answer:

Monopolistic

Monopolistic competition occurs when an industry has many firms offering products that are similar but not identical. Unlike a monopoly, these firms have little power to set curtail supply or raise prices to increase profits.

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