explain the characteristics of monopolistic competition.
Answers
Answered by
2
Hey Mate !
Monopolistically competitive markets have the following characteristics:
→There are many producers and many consumers in the market, and no business has total control over the market price.
→Consumers perceive that there are non-price differences among the competitors' products.
→There are few barriers to entry and exit.
Explanation:
Hope it helps u
#Keep smiling :)
Similar questions