how those monopolistic competition equilibrium explain the equilibrium in nigerian market?

Question

how those monopolistic competition equilibrium explain the equilibrium in nigerian market

Answer 1

Basically, if you have a good product that is difficult to duplicate, you are going to have a Monopoly in Nigeria.

If you produce things that everyone else is either producing or importing, then you have competition.

Equilibrium will be achieved when people are able to compete on price and make choices.

Monopolistic competioin is when two monopolies compete within Nigeria who normally would not compete.