Vangie owns a bakery that specializes in making intricate wedding cakes. She also makes unique miniature models of couples for their wedding cake toppers. She faces virtually no competition in her business, which is rare in the area where it operates and thus enjoys stable growth.

The opportunity of _______ is highlighted in the given scenario.

The scenario with Vangie's bakery business highlights the opportunity of 'monopolistic competition'. Despite possible temptations for other firms to enter the market, the unique nature of her products and her specialized skills act as strong economic barriers for potential competitors, allowing her to enjoy stable growth.

Explanation:

In the given scenario, Vangie, the bakery owner, is in a unique situation where she faces little to no competition in her line of business. This scenario highlights the opportunity of monopolistic competition. Here, her bakery is a part of a market structure where many competitors produce goods that are not perfect substitutes, as it specializes in intricate wedding cakes and unique miniature models for cake toppers.

Monopolistic competition scenario often leads to a temptation for other firms to enter the market if the existing monopolistic competitor is earning positive economic profits. However, the unique aspects of the business like specialisation of labor and other forms of barriers can prevent new entries into the market.

In Vangie's case, her specialization in her field of work and her ability to create unique products acts as a strong economic barrier for other potential competitors, and thereby, she enjoys stable growth in her business.

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