When there are many buyers and sellers, no significant barriers to entry, and a differentiated product, the market structure is called

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22-07-2022
Business

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When there are many buyers and sellers, no significant barriers to entry, and a differentiated product, the market structure is called

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ewomazinoade ewomazinoade · Answer 1 · 2022-07-25T18:50:11+02:00

The market structure where there are many buyers and sellers, no significant barriers to entry, and a differentiated product is a monopolistic competition.

What is a monopolistic competition?

A monopolistic competition is when there are many buyers and sellers of differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. A firm in a monopolistic industry sets the price for its goods and services.

An example of monopolistic competition are restaurants.

To learn more about monopolistic competition, please check: https://brainly.com/question/21052250

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