Market environments ◆ Monopo| istic Competition(垄断竞争 ) Many firms each making a slightly different product. Each firm's output level is small relative to the total Pure Competition: Many firms, all making the same product. Each firm's output level is small relative to the totalMarket Environments ◆Monopolistic Competition （垄断竞争 ）: Many firms each making a slightly different product. Each firm’s output level is small relative to the total. ◆Pure Competition: Many firms, all making the same product. Each firm’s output level is small relative to the total