Tag Archives: Characteristics

Monopolistic Competition: Definition, Characteristics, & Examples

In today’s growing economy, it is impossible to identify markets that witness a perfect competition or even a pure monopoly. However, there does exist a market structure that lies in-between these aforementioned polar opposites. In 1933, Mr. Edward H. Chamberlin published the Theory of Monopolistic Competition, through which he popularised the concept of a monopolistic […]