Economy, asked by paru4654, 9 months ago

Product differentiation in monopolistic competition

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Answered by vaibhav7537

Answer:

Product differentiation is the means used by a firm in a monopolistic competitive market with many firms selling similar products to differentiate its product from that of other firms.

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Answered by Anonymous

Answer:

Product differentiation is the means used by a firm in a monopolistic competitive market with many firms selling similar products to differentiate its product from that of other firms.

Examples of monopolistic competition

Restaurants – restaurants compete on quality of food as much as price.
Hairdressers.
Clothing.

Explanation:

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