Consider the monopolistically competitive market structure, which has some features of a competitive market and some features of a monopoly.

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Consider the monopolistically competitive market structure, which has some features of a competitive market and some features of a monopoly.

Conditions for monopolistic competition

Complete the following table by indicating if each attribute characterizes a competitive market, a moralistically competitive market, both, or neither. Check all that apply.

Attributes	Competitive Market	Monopolistically Competitive Market
Product differentiation
Identical products
Price is equal to marginal revenue
Few sellers without sang

business economics

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Answer 1

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Attributes	competitive markets	monopolistic competition
Product differentiation	no	yes
Identical products	yes	no
Price=MR	yes	no
Few sellers	no	yes

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Answer 2

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Product differentiation = No / No

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Consider the monopolistically competitive market structure, which has some features of a competitive market and some features of a monopoly.

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