What is another word for monopolistic competition?
Pronunciation: [mənˈɒpəlˈɪstɪk kˌɒmpətˈɪʃən] (IPA) 
Monopolistic competition refers to a market structure where there are many players (similar to a perfectly competitive market) but each player offers a slightly differentiated product, giving them some degree of market power. Synonyms for monopolistic competition include imperfect competition, differentiated competition, non-price competition, and differentiated oligopoly. In an imperfect competition, firms have some control over the price they charge due to the unique nature of their products. Differentiated competition is closely related to monopolistic competition, where firms are able to differentiate their products from other similar products. Non-price competition refers to any form of competition between firms that does not involve price cuts, like advertising, product differentiation, and other promotional strategies. Differentiated oligopoly is another term for monopolistic competition, where there are only a few producers in a market that compete through non-price competition.
