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'In the monopolistically competitive sea bass market, the demand curve facing any individual firm is downward sloping, and there are many producers in the market.
Monopolistic competition is a type of imperfect competition in which many manufacturers are competing with each other but selling different products from each other and therefore not perfect substitutes.
Monopolistic competition occurs when many companies offer similar but not identical products. Monopolistic competitors differentiate their products through pricing and marketing strategies.
A monopoly market is a theoretical condition that describes a market in which only one firm can offer its products or services to the public. A monopoly market is the opposite of a perfectly competitive market in which an infinite number of firms operate.
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