MONOPOLISTIC COMPETITION

Monopolistic Competition



Monopolistic Competition

Introduction

Monopolistic competition tends to be interpreted as a type of competition where there are a significant number of producers operating in the market without a dominant control by any of these in particular. This is very common in commodity markets that are normally found in supermarkets, where there are products of different brands, but with particular characteristics and within each product group, the features make them different from each other, but similar enough to compete with other producers and each other (Robert 1998, p.33). Precisely, it won't be wrong to state the fact the Monopolistic competition is ...