market structures

Monopolistic Competition Overview, Definition, Features

Monopolistic Competition: Overview, Definition, & Features

Monopolistic competition is a market structure where many firms offer products or services that are highly similar, highly substitutable, but not identical. There is a large number of producers/sellers in a monopolistic competition market. Barriers to …

Market Structures

Market Structures – Overview, Features, Types, Examples

Market structure refers to how markets/industries are differentiated based on the nature of competition, product uniqueness, the comfort of entry and exit, the degree of mutual interdependence, and other factors. There are four types of market structures include perfect competition, monopolistic competition, oligopoly, and monopoly.