Shelby Rowe
Professor Ornstil
Microeconomics
03 November 2016
Monopolistic Competitive Market
A monopolistic competitive market is a type of imperfect market in which there are
many firms that sell a similar product, but the product is differentiated enough so that there is
not a perfect substitute for each individual product. It is not very difficult to enter and exit the
market and the decisions of any one of the firms does not necessarily have a direct effect on
any of the other firms in the market.
