Answer:
Monopolistic competition is defined as a structure of a common market were organizations have different competitors, but they sell different types of product in the market.
Explanation:
Different kind of small businesses work under the state of monopolistic competition, which includes operated high-street stores, restaurants. and independently owned. for restaurants, each one has an element of uniqueness, and offers something that is not the same, but all are necessarily competing for the same customers.
Monopolistic competition can also be called a competition that is imperfect in a way that, different producers sell products that are different from one another.
