What four conditions define monopolistic competition?

1. Many FirmsAs a rule, markets are notmarked by economies ofscale or high start-up costs,allowing more firms.2. Few Artificial Barriers toEntryFirms in a market do notface high barriers to entry.3. Slight Control over PriceFirms in a market have somefreedom to raise prices becauseeach firm's goods are a littledifferent from everyone else's.4. Differentiated ProductsFirms have some control overtheir selling price because theycan differentiate, or distinguish,their goods from other productsin the marke