A market structure with a large number of sellers who make differentiated products is called monopolistic competition.
<u>Explanation:</u>
When there are many products that are similar and homogeneous are produced by many number of companies, then this refers to the market structure. There are may types of market structure such as Monopoly,oligopoly,duopoly,Monopsony, Oligopsony,Perfect competition and Monopolistic competition.
Monoplistic competition can also be termed as competitive market. It refers to the structure of the market in which there will be many number of companies and they will be producing products with slight differentiation. Thus,it is known as competitive market.
