A monopolistically competitive industry is like a purely competitive industry in that.

1 answer:

3 0

The similarity between a monopolistically competitive and purely competitive industry is neither industry has significant barriers to entry.

<h3>What is Monopolistic competition?</h3>

A monopolistic competition is the one that offer similar but substitute products whereas individual firms make their decision.

For a Monopolistic competition, barriers to entry are low same with purely competive industry.

Hence, the similarity between a monopolistically competitive and purely competitive industry is neither industry has significant barriers to entry.

Learn more about monopolistic competitive industry here : brainly.com/question/13113415

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