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Monopolistically Competitive Industry
An industry characterized by many firms selling products that are similar but not identical, allowing for competition based on product differentiation.
Monopolistic Competition
A market structure in which many firms sell products that are similar but not identical, allowing for some degree of market power.
Pure Competition
A market structure characterized by a large number of sellers offering identical products with no single entity controlling the market price.
Oligopoly
A market structure dominated by a small number of large firms, leading to competitive and cooperative behavior among companies.
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