Top 5 Features of Monopolistic Competition | Market Situation
The following points highlight the top five features of Monopolistic Competition. The features are: 1. Existence of Many Firms 2. Large Number of Sellers 3. Product Differentiation 4. Free Entry or Exit of Firms 5. Independent Price Policy. Monopolistic Competition Feature # 1. Existence of Many Firms: Under this the numbers of firms are more. They produce only a portion [...]