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Monopolistic competition is a type of imperfect competition such that there are many producers competing against each other but selling products that are differentiated from one another (e.g., branding, quality) and hence not perfect substitutes. For monopolistic competition, a company takes the prices charged by its rivals as given and ignores the…
Characters, Companies, Products & Measurement
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competition company companies market monopolistic mc price demand product cost many perfect products prices advertising competitive curve information capacity costs
| Subject | Predicate | Object | Confidence | Src |
|---|---|---|---|---|
| Monopolistic competition | is a | type of imperfect competition such that there are many producers competing against each other but selling products that are differentiated from one another | 0.90 | text |
| type | instance of | The goods perform the same basic functions but have differences in qualities | 0.80 | text |
| style | instance of | The goods perform the same basic functions but have differences in qualities | 0.80 | text |
| quality | instance of | The goods perform the same basic functions but have differences in qualities | 0.80 | text |
| reputation | instance of | The goods perform the same basic functions but have differences in qualities | 0.80 | text |
| appearance | instance of | The goods perform the same basic functions but have differences in qualities | 0.80 | text |
| and location that tend to distinguish them from each other | instance of | The goods perform the same basic functions but have differences in qualities | 0.80 | text |
| motor scooters | instance of | Yet there are many different types of motor vehicles | 0.80 | text |
| motor cycles | instance of | Yet there are many different types of motor vehicles | 0.80 | text |
| trucks | instance of | Yet there are many different types of motor vehicles | 0.80 | text |
| cars | instance of | Yet there are many different types of motor vehicles | 0.80 | text |
| and many variations even within these categories.Many companiesThere are many companies in each MC product group | instance of | Yet there are many different types of motor vehicles | 0.80 | text |
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