Monopolistic Competition is different. It is a blend of both of the extremes which gives us a much more realistic (and more common) situation.

• Give an example of a company (or industry) that would be consideredMonopolistically Competitive.
• Where would it fall on the spectrum above?
• Compared to both Perfect Competition and Monopoly, describe the Long Run outcomes. Compare things such as...
  • Price
  • Quantity of Production
  • Profits
  • Efficiency