Consumers enter the market both with specific preferences and, just as important, specific perceptions. The economic model of competition called "monopolistic competitive" is a fairly complex ...

Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Suzanne is a content marketer, writer, and fact-checker. She holds a Bachelor ...

Monopolistic competition features many businesses offering similar, differentiated products. This market structure benefits both consumers with varied choices and businesses via low entry barriers.

Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Pete Rathburn is a copy editor and fact-checker with expertise in economics ...

Paul Blacklow is affiliated with Economic Society of Australia. This article is part of The Conversation’s “Business Basics” series where we ask experts to discuss key concepts in business, economics ...