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In monopoly there is only one industry. In monopolystic there are more than one industry.
There are four basic market models based on the amount of competition within the industry. They are pure competition, monopolistic competition, oligopoly, and pure monopoly.
Fast food industry is in a monopolistic competition. This means that fast food businesses produce similar yet substitutable products, are profit maximizers, and all these businesses have some market power.
Existence of large firms, no competition and influence over the prices are some of the characteristics of monopolistic competition.
My views are very much depend which focus area that you intend to discuss; 1) Coffee Plantation Industry is perfect competition 2) Coffee Retail Industry is Monopolistic Competition
In monopolistic competition, sellers can profit from the differences between their products and other products.
Firms in monopolistic competition sell similar, but not identical products.
In perfect competition there are no restrictions about new entry or withdraw of existing firm in the market. But in monopolistic competition there are restriction on the new coming and withdrawing company, that mean no firm can enter or exist from the market in monopolistic competition.
the common examples of monopolistic competition are foods,clothes,newspaperetc
The disadventages of this is that ... well it sucks muahhahaha Disadvantages of a household in monopolistic competition are that a monopolistic competition work as one big industy and no one can start there own bussinesses because they government will not allow it.
they maximize profit
Perfect Competition, Monopoly, Monopolistic Competition or Oligopoly
When many producers are selling slightly differentiated products is a situation where monopolistic competition exists.
Pure Competition Monopolistic Competition Oligopoly Monopoly
In a perfect competition, the buyer is free to buy from any seller he or she chosses. :)in perfect competition there are many industries and the product is homogeneousin monopolistic competition there are many industries but the product is not homogeneousin monopoly there is only one company that produces the productin oligopoly there are not many industries that produces the product and there is a leader industry which "Rules" and controls the price
bcuas it is a shettttttttttttttttttt