Examlex
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Monopolistic Competition
A market structure in which many firms sell products that are similar but not identical.
Differentiated Products
Goods or services that are distinct in quality, features, or branding, which are not perfect substitutes and allow for product variety in the market.
Control Over Price
Regulatory or market-driven mechanisms that influence the setting and adjustment of prices for goods and services.
Monopolistically Competitive Industry
A market structure characterized by many firms selling products that are similar but not identical, allowing for competition based on factors other than price.
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