Walmart has a large aisle that displays many different kinds of toothpaste. this observation indicates that the toothpaste market is a monopolistically competitive market.
Monopolistic competition is a type of imperfect competition in which many manufacturers are competing with each other but selling different products from each other and therefore not perfect substitutes.
Monopolistic competition occurs when many companies offer competing products or services that are similar but not perfect substitutes. Barriers to entry in a proprietary, highly competitive industry are low, and no single firm's decisions directly impact competitors.
Fast food companies like McDonald's and Burger King that sell hamburgers on the market are the most common examples of monopoly competition. He mentioned above that the two companies sell almost similar types of products, but are not replacements for each other.
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