Differentiations.
More expensive product differentiations in a retail store may cause us to ask if we want lower prices by accepting waiting lines, limited choices, and a more austere store.
Monopolistic competition refers to a market where many firms sell differentiated products. Differentiated products can arise from characteristics of the good or service, the location from which the firm sells the product, intangible aspects of the product, and perceptions of the product.
A monopoly is a type of imperfect competition where a seller or producer captures the majority of the market share due to the lack of substitutes or competitors. Monopolistic competition is a type of imperfect competition where many sellers try to capture the market share by differentiating their products.
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