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Having an industry falling between 0 to 50% is commonly interpreted as an industry with low concentration ratio; the main description of this concentration is that it is a very competitive market also known as monopolistic competition. Monopolistic competition is a market structure characterized by a large number of firms which are similar but do not sell identical products, relative freedom of entry, into and exit out of the industry, and extensive knowledge of prices and technology. Monopolistic competition approximates most of the characteristics of perfect competition, but falls short of reaching the ideal benchmark, that is perfect competition...
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