What you’ll learn to do: define the characteristics of a monopolistically competitive industry

In this outcome, you will come to understand how and why some markets are NOT perfectly competitive, but more closely resemble markets for monopolies.

Here are some of the specific things you’ll learn to do in this section:

• Understand the difference between the firm and the industry

LEARNING ACTIVITIES

The learning activities for this section include the following:

• Reading: Introducing Monopolistic Competition
• Reading: Monopolistic Competition
• Self Check: Monopolistically Competitive Industries

Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.