Definitions for "monopolistic competition"
A market structure in which several or many sellers each produce similar, but...
market structure in which there are many sellers each producing a differentiated product. Each can set its own price and quantity, but is too small for that to matter for prices and quantities of other producers in the industry.
A market structure in which slightly differentiated products are sold by a large number of relatively small producers, and where the barriers to new firms entering the market are low. View Capstone Lesson(s) that address this concept
Keywords:  few, situation, sellers
situation in which there are only a few sellers.