In a monopolistic competition market structure, which of the following characteristics is most likely to be observed?

In a monopolistic competition market structure, many businesses sell products that are similar but not identical. This means each company has some control over its prices because they offer something unique, like a special flavor or brand. For example, think of ice cream shops; each one might have different flavors or recipes, which makes customers prefer one over another. However, because there are many options available, if one shop raises its prices too high, customers can easily go to a different shop. Overall, the key idea is that while companies compete for customers, they also have a bit of power to set their prices due to their unique offerings.