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rosijanka [135]
1 year ago
10

If a firm in a purely competitive market can differentiate its product or service, it becomes part of a(n) ________ market.

Business
1 answer:
k0ka [10]1 year ago
5 0

If a firm in a purely competitive market can differentiate its product or service, it becomes part of a monopolistic competition market.

Monopolistic competition is a type of imperfect competition in which many manufacturers compete with each other, but sell different products, so they are not perfect substitutes.

These sellers can calculate their prices based on the uniqueness of the products they are offering, so you cannot compete on price. Also, this company that

has full control or is trying to have full control of something, especially has areas of business that no one else is involved with. She didn't think the fines would be a sufficient deterrent to monopoly practices by large manufacturers. The company has been accused of monopolistic conduct.

Learn more about monopolistic  here

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In the components of a business plan, the section which contains a detailed description of the company, the problem/opportunity, proposed solution to be offered, and your competitive advantage is "Financial Projections section"

<h3>What is Financial Projections?</h3>

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