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Sho needs to purchase a dress shirt for an upcoming job interview. He shops at kohl’s and sees that he can choose from different brands, including apt. 9, chaps, arrow, croft & barrow, and many more. The dress shirts come in a variety of colors, materials, and price points. Which type of competitor structure is illustrated?.

Respuesta :

Monopolistic competition is sort of competitor structure is illustrated in the given situation according to the question.

Elaborate:

Monopolistic competition exists when a firm with many potential competitors attempts to discover  a marketing strategy to differentiate its product. the manufacturers of the dress shirts differentiate them by style and color, materials, and price.

What Is Monopolistic Competition?

Monopolistic competition exists when several companies offer competing products or services that are resemble , but not perfect, substitutes. The barriers to entry during a monopolistic competitive industry are low, and therefore the decisions of any one firm do not directly affect its competitors.

What is the characteristics of monopolistic competition?

Monopolistic Competition may be a type of market structure where there are many firms in the market, but each and every  offers a  different product. it's characterized by low barriers to entry and exit, which creates fierce competition.

Learn more about monopolistic competition:

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