{"id":47031,"date":"2023-01-05T04:05:00","date_gmt":"2023-01-05T04:05:00","guid":{"rendered":"https:\/\/businessyield.com\/?p=47031"},"modified":"2023-02-10T13:52:41","modified_gmt":"2023-02-10T13:52:41","slug":"monopolistic-market","status":"publish","type":"post","link":"https:\/\/businessyield.com\/bs-markets\/monopolistic-market\/","title":{"rendered":"MONOPOLISTIC MARKET: Overview, Characteristics & Examples","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"

Monopolistic competition is a market structure in which many firms compete for market share, and each firm’s product is similar to, but not interchangeable with, the other firms’ products. In this guide, you can learn about the features, structures, and examples of monopolistic market competition.<\/p>

What Is a Monopolistic Market?<\/h2>

Monopolistic markets are those in which only one company provides a specific product or service. Monopolistic market structures are characterized by the features of a pure monopoly, in which a single company fully controls the market and determines the supply and price of a product or service. As a result, a monopolistic market is a non-competitive market.<\/p>

Monopolistic Market Competition<\/h2>

Monopolistic competition is a market structure in which many companies exist in an industry and produce similar but distinct products. None of the companies has a monopoly, and each company operates independently of the actions of the others. Monopolistic market structures represent a type of imperfect competition.<\/p>

Monopolistic market competition has the following characteristics:<\/p>