what are the most important differences between perfectly competitive markets and monopolistically competitive markets? part 2 unlike in perfectly competitive markets, in monopolistically competitive markets, part 3 a. firms face downward-sloping demand curves, and the products competitors sell are differentiated. b. firms face downward-sloping demand curves, and the products competitors sell are identical. c. firms face horizontal demand curves, and there are no barriers to entry. d. , and there are substantial barriers to entry. e. there are only a few sellers, and .

When a large number of businesses provide rival goods or services that are comparable but imperfect alternatives, monopolistic competition exists. A monopolistic competitive industry has minimal entry requirements, and decisions made by any one firm do not immediately affect those of its rivals.

What benefits does monopolistic competition provide?

Customers can choose from a wide range of goods and services because they are differentiated; consumers are informed about the goods and services available in the market; there are few barriers to entry; a vibrant business environment; customers can obtain a great variety of goods and services; higher quality of products

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