Discuss with example the concept and features of Monopolistic Competition.

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Monopolistic competition is a market structure characterized by a large number of firms competing in an industry that offers differentiated products. Unlike perfect competition, where products are homogeneous, in monopolistic competition, each firm sells a product that differs slightly from those of its competitors. This differentiation can be based on quality, branding, or other attributes that make each product unique in the eyes of consumers.

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Degree : BACHELOR DEGREE PROGRAMMES
Course Name : BACHELOR OF ARTS
Course Code : BAG
Subject Name : Principles of Microeconomics-II
Subject Code : BECC 132
Year : 2024 2025