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Meaning of monopolistic competition

 

 

 

Monopolistic competition

 

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Business glossary

 

Meaning of term monopolistic competition :

 

An industry in monopolistic competition is an industry made up of a large number of small firms who produce goods which are only slightly different from that of all other sellers. It is similar to perfect competition with freedom of entry and exit for firms but goods that are differentiated.

 

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Monopolistic competition

 

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Meaning of term monopolistic competition

 

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