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Netflix is a Monopolistic Competition because it many competitors, (Disney+, Paramount+, HBO Max, Hulu, ect.), and they all sell similar but different products. They sell steaming services to shows and movies, but different shows and movies.

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Netflix is a Monopolistic Competition because it many competitors, (Disney+, Paramount+, HBO Max, Hulu, ect.), and they all sell similar but different products. They sell steaming services to shows and movies, but different shows and movies.

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Cons: Excess waste of resources, misleading advertising, excess of capacity, inability to gain high profits.

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Cons: Excess waste of resources, misleading advertising, excess of capacity, inability to gain high profits.

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Pros: Freedom in decision making, higher quality products, low market power, low barrier to entry.

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Pros: Freedom in decision making, higher quality products, low market power, low barrier to entry.

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Competition tends to be more dependant on product quality than price.

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Competition tends to be more dependant on product quality than price.

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Monopolistic Competition is an industry with many firms that provide similar, but different products.

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Monopolistic Competition is an industry with many firms that provide similar, but different products.