Yes gold does belong to monopolistic competition. The main feature of monopolistic competition is product differentiation which is quite prevalent in the gold market. The gold sold by different shops is different and they charge different prices for it for the same weight. Selling costsalso become prevalent. We see many advertisements and attractive posters for different shops selling gold. The costsincurred for these ads are called selling costs. These are vital to the concerned shops as they attract more customers even though actually they haven't changed the price of gold as such. Also there are quite a few shops selling gold so there is a large number of buyers and sellers. All these factors combined make me confidently say that the gold market is a monopolistic competition.
Monopolistic Competition
monopolistic competition
Existence of large firms, no competition and influence over the prices are some of the characteristics of monopolistic competition.
they maximize profit
Monopolistic competition
Monopolistic Competition
monopolistic competition
Existence of large firms, no competition and influence over the prices are some of the characteristics of monopolistic competition.
In monopolistic competition, sellers can profit from the differences between their products and other products.
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
Pure Competition Monopolistic Competition Oligopoly Monopoly
Monopolistic competition
yes
monopolistic competition
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