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Sole Proprietorship in Monopolistic Competition Olivia Cochran Economics / sixth period
I just opened my own coffee shop in downtown! It has always been a dream of mine to open my own business.
There is already a coffee shop in downtown though...
Yes, but I'm selling my own products.
Even though it's my own business, I'll still be in competition with other coffee shops because they sell the same products as me but different types of those products
Ohhh, so the monopolistic competition industry is made up of businesses that have the same products but different kinds of the products? And those businesses are called sole proprietorship?
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