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A certain car manufacturer regards his business as highly competitive because he is keenly aware of his rivalry with the other few manufacturers in the

A certain car manufacturer regards his business as highly competitive because he is keenly aware of his rivalry with the other few manufacturers in the market like the other car manufacturers. He undertakes vigorous advertising campaigns seeking to convince potential buyers of the superior quality and better style of his automobiles and reacts very quickly to claims of superiority by rivals. Explain why this is the meaning of a monopolistic competition from an economic point of view.

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