Monopolistic competition features many businesses offering similar, differentiated products. This market structure benefits both consumers with varied choices and businesses via low entry barriers.

Caroline Banton has 6+ years of experience as a writer of business and finance articles. She also writes biographies for Story Terrace. Somer G. Anderson is CPA, doctor of accounting, and an ...

Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Pete Rathburn is a copy editor and fact-checker with expertise in economics ...