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Monopolistic competition is a market situation that is different from both perfect competition (PC) and monopoly. The theory of monopolistic competition was first developed by Chamberlin.
In monopolistic competition the firms sell differentiated yet highly substitutable products, whereas in PC, the firms engage in production of homogeneous products. This product differentiation gives the firms a bit of monopoly power in pricing and they face slightly downward sloping demand curve as compared to the horizontal demand curve of PC. However, the free entry and exit of firms ensures that these firms have limited monopoly and no super normal profits arise in the long-run.
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Is product of shampoo include in monopolistic or perfect competition?
Monopolistic Competition
Is Best Buy an oligopoly or monopolistic competition?
monopolistic competition
Is unilever an monopolistic?
no
Should monopolistic competition be regulated?
Monopolistic competitions should be regulated to protect consumers against exploitation.
What is the explanation for the features of monopolistic competition?
Existence of large firms, no competition and influence over the prices are some of the characteristics of monopolistic competition.
Is product of shampoo include in monopolistic or perfect competition?
Monopolistic Competition
What are monopolistic companies in the Philippines?
monopolistic status of companies in the Philippines
Is Best Buy an oligopoly or monopolistic competition?
monopolistic competition
Which states are monopolistic for wc?
Washington, Wyoming, North Dakota, and Ohio are monopolistic states
What states are monopolistic?
There are 4 monopolistic states - North Dakota, Ohio, Washington and Wyoming. Nevada and West Virginia had been monopolistic, but are now private insurance states.
Is unilever an monopolistic?
no
Should monopolistic competition be regulated?
Monopolistic competitions should be regulated to protect consumers against exploitation.
What are the advantages and disadvantages of monopolistic trusts such as the Standard Oil Trust for consumers?
One advantage of a monopolistic trust are that prices can remain low. Disadvantages of monopolistic trusts is that it eliminates competition and can result in an unequal distribution of wealth.
What are the disadvantages of household in monopolistic competition?
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.
Is Microsoft corporation a monopolistic industry?
No, it is not.
What is the explanation for the features of monopolistic competition?
Existence of large firms, no competition and influence over the prices are some of the characteristics of monopolistic competition.
Give an example of a monopolistic market industry?
the common examples of monopolistic competition are foods,clothes,newspaperetc
