In a monopolistically competitive market, a great example is the coffee shop industry. Companies like Starbucks and Dunkin' Donuts offer similar products but with their own unique flavors and branding. When it comes to pricing, I always go for Dunkin' and I will at times choose Starbucks if they have a special seasonal drink or if I prefer their ambiance and atmosphere.

Now, in a monopolistic market, a well-known example is Nike with its athletic footwear. Nike dominates the market and has significant control over pricing. Changes in Nike's pricing might not directly affect my purchase decision since I need quality athletic shoes, but it could impact my decision to purchase a specific style or wait for a sale.

In a perfectly competitive market like the grocery store industry, stores like Walmart, Kroger, and Publix sell similar products at similar prices. I check prices at different stores and pick the cheapest one for my groceries. This shows how different companies work in different ways and how prices can affect what we buy. It's cool to see how this works in different industries!