a) Think of a monopolisticly competitive industry that you think you could actually get into, possibly in a specific area of the garment industry (but not shoes or make-up). What qualities would make it that kind of an industry? (b) Do you think, that if you were successful, that other competitors would jump in to compete away your profits? How could you try and maintain your profits? (c) Are there monopolistic competition businesses that you are familiar with in your own experience that remain more than ‘normally’ profitable?
