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A(n) ___________ may occur when only a small number of firms are producing the same or...

A(n) ___________ may occur when only a small number of firms are producing the same or similar product due to decreased demand.

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"Monopolistic competition"

A Monopolistic competition may occur when only a small number of firms are producing the same or similar product due to decreased demand.

Because.

Also we can say that monopolistic competition of avene and industry has many forms offering products that are similar but not identical.firms in monopolistic competition typically try to differentiate their product in order to achieve in order to capture above market returns. Monopolistic competition is is characterizes a number of industries that are familiar to consumers in their day to day lives.

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