What are the Features of Monopolistic Market?
Monopolistic Competition market Structure, A Market structure where many Firms Complete to sell similar but differentiated products and each Firms Operated independently.
Monopolistic Competition market Structure, where many firms offer Competiting products or Services that are similar.
Monopolistic Competition market, markets where certain products or Services is offered by only one Firm.
- Firms sell similar products, but not exat substitutes, often through Branding.
- Indepedent Operation
- Easy to entry for New Firms in Monopolistic Competition market.
- New Firms rely on advertising to there products.
- Low Barriers to entry & Exit.
- High Numbersof Copanies with Minimal Market.
Examples of Monopolistic Market:-
- Restaurent & Food Chains
- Hair Saloon Services & Other Consumer Services.
- Televisions Services & Other Media Services.
- Hospiatality Business
- Hotel Business
- Clothing & Footwear