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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.
What else can I help you with?
Is product of shampoo include in monopolistic or perfect competition?
Monopolistic Competition
Is Best Buy an oligopoly or monopolistic competition?
monopolistic competition
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.
Why is monopolistic competition inefficient compared to perfect competition?
Monopolistic competition is inefficient compared to perfect competition because firms in monopolistic competition have some degree of market power, allowing them to set prices higher than in perfect competition. This leads to higher prices for consumers and less efficient allocation of resources. Additionally, firms in monopolistic competition may engage in non-price competition, such as advertising, which can further reduce efficiency.
What does monopolistic competition and perfect competition have in common?
they maximize profit
Is product of shampoo include in monopolistic or perfect competition?
Monopolistic Competition
Is Best Buy an oligopoly or monopolistic competition?
monopolistic competition
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.
Which is the main difference between perfect competition and monopolistic competition?
In monopolistic competition, sellers can profit from the differences between their products and other products.
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.
What does monopolistic competition and perfect competition have in common?
they maximize profit
Why is monopolistic competition inefficient compared to perfect competition?
Monopolistic competition is inefficient compared to perfect competition because firms in monopolistic competition have some degree of market power, allowing them to set prices higher than in perfect competition. This leads to higher prices for consumers and less efficient allocation of resources. Additionally, firms in monopolistic competition may engage in non-price competition, such as advertising, which can further reduce efficiency.
Types of Market Competition?
Perfect Competition, Monopoly, Monopolistic Competition or Oligopoly
What are three types of business competition?
Pure Competition Monopolistic Competition Oligopoly Monopoly
Why is restaurants a example of monopolistic competition?
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What is the market structure of Google?
monopolistic competition
Is McDonald's part of monopolistic competition?
yes
