What is the Model of Monopolistic Competition (i.e Imperfect competition) characterized by?

In monopolistic competition closely substitute goods are produced which are slightly differentiated but let us note that a homogeneous product is one that cannot be distinguished from competing products from different suppliers. Also said a homogenous product is one that is slightly diffrentiated from other similar products In other words, the product has essentially the same physical characteristics and quality as similar products from other suppliers. One product can easily be substituted for the other.