monopolistic competition

Noun

Meaning

monopolistic competition

(economics) A type of market structure that shares both characteristics of perfect competition and that of monopoly depending on the time frame (long-run or short-run).

Source: en.wiktionary.org

Examples

But under monopolistic competition inefficient firms continue to survive. Source: Internet

Classical economic theory assumes that a profit-maximizing producer with some market power (either due to oligopoly or monopolistic competition ) will set marginal costs equal to marginal revenue. Source: Internet

It is the point where the LRATC curve "begins to bottom out." citation Socially undesirable aspects compared to perfect competition * Selling costs: Products under monopolistic competition are spending huge amounts on advertising and publicity. Source: Internet

Long-run equilibrium of the firm under monopolistic competition. Source: Internet

Models of monopolistic competition are often used to model industries. Source: Internet

Perloff (2009), p. 393. Any market structure characterized by a downward sloping demand curve has market power – monopoly, monopolistic competition and oligopoly. Source: Internet

Close letter words and terms

monopolism monopolist monopolistic monopolistic markets monopolistically monopolite