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AP Microeconomics
Unit 4 – Imperfect Competition
Topic 4.4
In monopolistic competition, firms may engage in non-price competition because:
They lack market power
Product differentiation is possible
Consumer preferences are solely based on price
Price is the only differentiating factor
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AP Microeconomics - 4.4 Monopolistic Competition
Key terms
Monopolistic Competition
Non-price competition
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About Fiveable
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Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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