What is the difference between pure monopoly market structure and pure competition market structure?

Answer 1

The basic monopoly is not as good as the monopoly here and now one. It only has 5 dollars, 10 dollars, 500 dollars, 100 dollars,20 dollars, and 50 dollars. The Here and now one has 1000 dollars like 2,500 dollars. You would need a calculator. Thanks

Answer 2

in pure competition there is presence of large no of seller and buyer so that change in the supply and demand of any firm and consumer respectively does not effect the market price because all the firms are producing homogeneous product. while in monopoly, the monopolist have sole power he can produce a homogeneous or heterogeneous product according to his will without the danger of any competition all the supply of the product is concentrated in a single firm. he has all power to charge any price for his product which make him a price maker

Answer 3

Monopoly

A monopoly is a market condition in one which one player/business/individual controls the availability and price of a product/service/consumable item. This is generally considered to be anti-competitive by most governments and laws limiting the extent to which the situation can exist usually follow the discovery of a monopoly.

Natural Monopoly

In some cases, however, a natural monopoly exists, in that the service/product would/could/should be provided by a single source. Examples of such things include public transportation including buses, ferries and trains, the provision of water, electricity, gas and sewage services. It is unreasonable or improper for there to be a large number of providers in these services with the resulting wide range of fees such market forces usually bring to bear. As such, natural monopolies are seen to provide benefits to the community rather than burdens...

Answer 4

Natural monopoly is one that takes place without mans interferance as geographical monopoly is suggested by man ex. Oil