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Monopolistically Competitive
Describes a market structure in which many firms sell products that are similar but not identical, allowing for some degree of market power.
Market Structure
The organization and characteristics of a market, including the number and size of sellers, product differentiation, and ease of entry and exit.
Monopolistic Competition
A market structure in which many firms sell products that are similar but not identical.
Market Structure
The organizational characteristics of a market, influencing competition and pricing, including perfect competition, monopolistic competition, oligopoly, and monopoly.
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