46 other terms for monopolistic competition - words and phrases with similar meaning. differentiated competition. competitive market. imperfect competition. market power. oligopoly. oligopolistic situation. monopoly and competition. bertrand competition.

Monopolistic competition occurs when many companies offer products that are similar but not identical. Firms in monopolistic competition differentiate their products through pricing and...

Definition: Monopolistic competition is a market structure which combines elements of monopoly and competitive markets. Essentially a monopolistic competitive market is one with freedom of entry and exit, but firms can differentiate their products.

Monopolistic competition is a market structure where many small firms produce differentiated products, creating some market power but still facing competition. Unlike perfect competition, firms have some control over the price of their product due to product differentiation.

A monopolistically competitive market is a productively inefficient market structure because marginal cost is less than price in the long run. Monopolistically-competitive markets are also allocative-inefficient, as the company charges prices that exceed marginal cost.