The Monopolistic competition reference article from the English Wikipedia on 24-Jul-2004 (provided by Fixed Reference: snapshots of Wikipedia from wikipedia.org)

Monopolistic competition

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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