What is Monopolistic competition? : Abaara fun facts and uncommon knowledge - Monopolistic competition

Abaara topic: Monopolistic competition

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Abaara topic: Monopolistic competition

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Monopolistic competition

The form of economic competition known as Monopolistic competition occurs when:

There are many producers and many consumers in a given market.
Consumers have clearly defined preferences - the goods and services are heterogeneous
Freedom of entry.

A monopolistically competitive firm acts similar to monopolists in the short run, but in the long run has no profits and excess capacity.

See also:
| Competition |

Categories: Business models | Economic terms

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This article is from Wikipedia. All text is available under the terms of the GNU Free Documentation License

Page topic: Monopolistic competition