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  • I wonder how Alex is doing with his dog sitting business... running a sole proprietorship does have its ups and downs, especially with this monopolistic competition environment.  
  • Speaking of Alex, there he is. I guess he is taking a day off.
  • Hey Alex, how is you're dog sitting business?
  • Well, with me being the only one running it, I am taking on a lot of responsibility. The only good part is that I am making a big profit and I get to keep all of it.
  • Yes, with another dog sitter in town it is going to be hard to run my business. This is about to turn into a monopolistic competition if they are going to have the same prices as me. 
  • Alex did you see that poster?
  • Well, it is a type of imperfect competition. It mainly has to do with selling the same goods as someone else but at different prices, but my business is in jeopardy.
  • What do you mean turn into a monopolistic competition?
  • Maybe I should contact this new dog sitter and we can work together to make double the profit.
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