Monopolistic competition is happening when there are two different industry have the same product but not identical . This case is usually happen in real life . The one who coppied the product just change the name of the product before selling it
Monopolistic competition occurs when an industry has many firms offering products that are similar but not identical. Unlike a monopoly, these firms have little power to curtail supply or raise prices to increase profits.
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Answer:
Monopolistic competition is happening when there are two different industry have the same product but not identical . This case is usually happen in real life . The one who coppied the product just change the name of the product before selling it
Answer:
Monopolistic competition occurs when an industry has many firms offering products that are similar but not identical. Unlike a monopoly, these firms have little power to curtail supply or raise prices to increase profits.
Explanation: