Monopolistic Competition

Posted in Finance, Accounting and Economics Terms, Total Reads: 877

Definition: Monopolistic Competition

The concept of Monopolistic competition was given by Edward Hastings Chamberlin and it has the following characteristics:

  1. Sellers are high.
  2. Differentiated products.
  3. Entry and Exit barriers are low.
  4. Selling Cost is high because of additional cost incurred on product differentiation.
  5. Demand Curve downward slopping: The demand curve is elastic as it can sell high quantity at a lower price.

Search & Explore : Management Dictionary

Browse definitions and meaning of more concepts and terms similar to Monopolistic Competition. The Management Dictionary covers definitions and overview of over 7000 business concepts from 6 categories.

Share this Page on:

Similar Definitions from same Category: