A monopoly is a market which has only one firm, the firm has market power, and there are barriers to entry. The long run profits for a monopolist may be greater than zero. Monopolistic competition is more closely related to perfect competition than monopoly. In monopolistic competition, there are many firms in the market. However, each firm has product differentiation. An example of monopolistic competition would be the jeans industry. There are many different types/quality of jeans e.g. True Religion, Levi's and Lee's. Products are somewhat differentiated, but, as in perfect competition, the long run profit = 0. Oligopoly is a market in which there are only a few firms, each firm has market power, and there is much product differentiation between the firms. The long-run profit of oligopoly can be greater than zero, because there are barriers to entry in the market.
In monopoly there is only one industry.
In monopolystic there are more than one industry.
No it is Monopoly.
monopoly,perfect competition,monopolistic competition,
Monopoly, Oligopoly, and monopolistic competition.
Pure competition, pure monopoly, monopolistic competition, and oligopoly.
A. Pure competition Computer operating systems B.Near monopoly Fast food restaurants C. Monopolistic competition Online auctioning D. Oligopoly Car makers
Perfect Competition, Monopoly, Monopolistic Competition or Oligopoly
No it is Monopolistic competition.
No it is Monopoly.
Pure Competition Monopolistic Competition Oligopoly Monopoly
monopoly,perfect competition,monopolistic competition,
Monopoly, Oligopoly, and monopolistic competition.
Pure competition, pure monopoly, monopolistic competition, and oligopoly.
Monopoly, Oligopoly, pure competition and monopolistic competition
A. Pure competition Computer operating systems B.Near monopoly Fast food restaurants C. Monopolistic competition Online auctioning D. Oligopoly Car makers
pure or perfect, monopolistic, oligopoly, and monopoly
monoplistic competition involves slightly differentiated products while monoply involves a single product.
Banks are competitive. This is why they spend so much on advertising. Monopoly and competition are opposites.