Respuesta :
Businesses engaged in monopolistic competition produce goods with marginally different physical qualities and various levels of customer service.
How does the monopolistic competition work?
Monopolistic competition arises when numerous businesses provide rival goods or services that are comparable but imperfect substitutes. Entry barriers are low in monopolistic competitive industries, and decisions made by one firm do not directly affect those of its rivals. Pricing and marketing choices are how the rival companies set themselves apart.
Between perfect and monopolistic competition, known as monopolistic competition, there is monopolistic competition, which combines aspects of both and entails businesses with similar but distinct product offerings.
Examples of industries with monopolistic competition include dining establishments, hair salons, home goods, and apparel. Many rival businesses sell, market, and charge for goods like dish soap and hamburgers.
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