Economy, asked by khushigarg9701, 1 year ago

What do you mean by product group in the context of monopolistic competition?

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Answered by rathigas84

0

Answer:

Explanation:

Monopolistic competition characterizes an industry in which many firms offer products or services that are similar, but not perfect substitutes. Barriers to entry and exit in a monopolistic competitive industry are low, and the decisions of any one firm do not directly affect those of its competitors

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