Hairdressing is a great example of monopolistic competition. Salon and barber shop owners build a reputation based on the services they offer. This type of service is one of the most well-known examples of monopolistic competition. There are many hairdressers, each with their own unique set of skills, and each offering a slightly different product to the consumer.
Furthermore, they have different locations where they provide their services. These factors differentiate the product in the eyes of customers. The hairdressing industry is not dominated by large chains, which keeps it away from an oligopolistic market structure.
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