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"Monopolistic Competition" is, unless I'm missing something, an oxymoron. "Monopoly" implies "no competitors," so who, precisely, is the monopoly supposed to be competing with?
In an oligopoly, there are a few competitors, so there actually could be some competition; however, the term is generally used in a trust situation where the "competitors" more or less agree not to actually compete.
What else can I help you with?
Is airline industry a oligopoly or monopolistic?
Oligopolistic
Is product of shampoo include in monopolistic or perfect competition?
Monopolistic Competition
Is Best Buy an oligopoly or monopolistic competition?
monopolistic competition
Is the restaurant industry oligopoly?
The fast-food industry itself is an oligopolistic market, but it operates under the monopolistic competitive market of restaurants in general.
What is the difference between oligo polistic competition and pure monopolistic competition?
In monopolistic competition, firms capture monopoly profits through specialisation of their product, making it non-substitutable with competing firms' products. In oligopolistic competition, this does not occur. Instead, three are three general outcomes: 1) firms collude to mimic a monopoly and share monopoly profits; 2) a dominant firm leads the market and sets the price; 3) firms compete freely and but take each other's decisions into account.
Is airline industry a oligopoly or monopolistic?
Oligopolistic
Is product of shampoo include in monopolistic or perfect competition?
Monopolistic Competition
Is Best Buy an oligopoly or monopolistic competition?
monopolistic competition
Is the restaurant industry oligopoly?
The fast-food industry itself is an oligopolistic market, but it operates under the monopolistic competitive market of restaurants in general.
What is the difference between oligo polistic competition and pure monopolistic competition?
In monopolistic competition, firms capture monopoly profits through specialisation of their product, making it non-substitutable with competing firms' products. In oligopolistic competition, this does not occur. Instead, three are three general outcomes: 1) firms collude to mimic a monopoly and share monopoly profits; 2) a dominant firm leads the market and sets the price; 3) firms compete freely and but take each other's decisions into account.
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.
What type of market form are airlines?
oligopolistic 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.
Example of Producer Cooperative in the Philippines?
criticisms on oligopolistic competition
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.
