Monopolistic competition
From Wikipedia, the free encyclopedia.

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

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

See also : other market forms

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The original article can be found at: http://en.wikipedia.org/wiki/Monopolistic_competition.
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