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The equation for department S1 (building occupancy) is
Monopolistically Competitive
Describes a market structure where many companies sell products that are substitutes, but are not perfect substitutes, leading to some degree of market power for each firm.
Barriers to Entry
Obstacles that make it difficult for new competitors to enter a market, such as high startup costs or strict regulations.
Product Differentiation
The process of distinguishing a product from others in the market to make it more attractive to a particular target market.
Brand Names
Distinctive names given to products or services by companies to differentiate them from competitors and build brand identity.
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