Describe the fundamental properties of information products and evaluate how the prices of these products are determined under monopolistic competition.

Competition occurs when there are several businesses in an economy providing similar and not similar items. These firms, with exception of monopolies, have very little ability to limit source or increase price to increase profits.

To discuss the basic qualities of software solutions and to assess what their prices are set in monopoly market.

And since communication merchandise have unique features and being benefited, having rates of return, and just being non-rivalrous, brand scarcity-based supply and demand laws do not pressurizing to information goods.

Since this product varies among firms throughout monopoly market, no firm has relatively elastic interest in its products. In a very market, each firm sets its own rates for its own products.