What is Monopolistic Competition Market?

monopolistic competitive market

Monopolistic competition market is one of imperfect competition market. This monopolistic competition market theory was developed due to dissatisfaction with the analysis of the perfect market competition model or the monopoly market. However, if viewed from a monopolistic market structure, it is closer to a perfectly competitive market, but companies will participate more in that market in order to produce a product that is different and also has its own characteristics. This monopolistic competition market is a market with many consumers who produce a different commodity and can also be referred to as a market where there are many sellers who … Read more