https://padlet.com/opaluch/8kj616ox7t6q Monopolistic Competition en-us 2017-11-06 15:31:32 UTC 2023-05-24 15:42:42 UTC hello@padlet.com opaluch https://padlet.com/opaluch/8kj616ox7t6q/wish/203951137 -businesses sell similar products and the market from which they buy their products from has many buyers and sellers]]> 2017-11-06 15:56:33 UTC https://padlet.com/opaluch/8kj616ox7t6q/wish/203951137 opaluch https://padlet.com/opaluch/8kj616ox7t6q/wish/203954080 2017-11-06 16:00:31 UTC https://padlet.com/opaluch/8kj616ox7t6q/wish/203954080 opaluch https://padlet.com/opaluch/8kj616ox7t6q/wish/203954480 2017-11-06 16:01:10 UTC https://padlet.com/opaluch/8kj616ox7t6q/wish/203954480 opaluch https://padlet.com/opaluch/8kj616ox7t6q/wish/203954747 -This fits a monopolistic competition because each grocery store sells similar products (food, drinks, household items)
-The market has many buyers and sellers
-Each grocery store uses advertising to promote their products]]> 2017-11-06 16:01:36 UTC https://padlet.com/opaluch/8kj616ox7t6q/wish/203954747 opaluch https://padlet.com/opaluch/8kj616ox7t6q/wish/203956175 1) There are no significant barriers for entry
2) There is a lot of differentiation which creates choice and diversity
3) Consumers become more knowledgeable of the products through advertising]]> 2017-11-06 16:03:54 UTC https://padlet.com/opaluch/8kj616ox7t6q/wish/203956175 opaluch https://padlet.com/opaluch/8kj616ox7t6q/wish/203958441 1) The companies create a lot of waste (ex. advertising and extra packaging)
2) Higher prices lead to inefficiency 
3) Companies try to differentiate their products buy adding unnecessary qualities of the product instead of improving the overall product]]> 2017-11-06 16:07:20 UTC https://padlet.com/opaluch/8kj616ox7t6q/wish/203958441 opaluch https://padlet.com/opaluch/8kj616ox7t6q/wish/203964097 2017-11-06 16:15:54 UTC https://padlet.com/opaluch/8kj616ox7t6q/wish/203964097