Price determination of trade Mark

MONOPOLISTIC COMPETITION  September 16, 2016 – 04:27 pm
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            Monopolistic compression is a combination of both ‘monopoly’ and ‘competition’ The credit of developing this theory goes to Prof. Edward Hastings Chamberlain of Harward University. He is the main architect and builder of this theory. In reality there is no monopoly and perfect competition and there exists only monopolistic competition.

Main Features

            Monopolistic competition is characterized by the existence of several firms selling goods which are close substitutes of each other. The following are the important features of monopolistic competition


1. Existence of a large number of firms

            There are a large number of firms producing goods under monopolistic competition. It may vary from ten to thirty, as the number of firms is quite large.

2. Product Differentiation

Source: Morld Tech Gossips

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