The market structure
The market structure
Monopolistic competition is a market structure containing many firms, low barriers to entry and exit, and differentiated products. Examples include independent coffee shops, restaurants and local hairdressers.
Step-by-step lessons on Edexcel A A Level Economics 3.4.3 Monopolistic competition. Each one builds up to exam-style questions. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.