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(Solved): Give 1 example of a product you buy in a Monopolistically Competition industry (not fast food) and e ...


Give 1 example of a product you buy in a Monopolistically Competition industry (not fast food) and explain why you feel as though this product/business fits the definition of monolithic competition. How do you know that, in the long-run, the business you are buying from will not make economic profits and why is the business okay with this?



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Ans--) In case of the monopolistic competition many of the firms compete with each other but at the same time sell the products which the distinct with that of the product of competitors in some way. Since in multiple areas monopolistic competition c
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