First used in the 1930s by economists Edward Chamberlin and Joan Robinson, the term "monopolistic competition" refers to a market structure in which many businesses provide a product or service, but ...

Although most people think of markets for various products as being either monopolistic or competitive, the reality is that our economy is more complicated. Individual product markets tend to fall ...

Monopolistic competition describes markets in which numerous firms produce differentiated products and operate under increasing returns to scale. In the context of international trade, this framework ...