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. Suzanne is a content marketer, writer, and fact-checker. She holds a Bachelor ...

Greg DePersio has 13+ years of professional experience in sales and SEO and 3+ years as a writer and editor. Westend61/Getty Images In perfect competition, the market structure is controlled entirely ...

First used in the 1930s by economists Edward Chamberlin and Joan Robinson, the term "monopolistic competition" refers to a market structure in which many businesses provide a product or service, but ...