One of the characteristics of monopolistic competition is that

Monopolistic competition is a market structure where there are many sellers offering similar but not identical products. One of the characteristics of monopolistic competition is that no single seller dominates the market, meaning that there is no monopoly power. Instead, each firm has a small share of the market, so they have to compete with each other on the basis of price, quality, and marketing. This means that the firms are not price-takers and have some control over the price they charge for their products. Consumers do not have perfect knowledge of price and quality, so they have to search for information and make trade-offs based on their preferences. Factors of production are relatively mobile, meaning that they can move from one firm to another depending on the relative profitability of each firm.