Posted by RyaN on Wednesday, November 8, 2006 at 11:30pm.
hi, can sum1 help me?
wats difference between monopoly and perfect competition?
one is a solely dominated market and the other is a market with many producers
1)The monopolist is the price-maker. But the firm i under aperfect compepetion is the price-taker. 2)Products under perfect competion are identical but theremay difference in product under perfect competition. 3)There is free entry under perfect competition but the the free is not observed under monopoly.
thanks! *big kiss*
The difference between Monopoly and perfect competition is that:
1) In Monopoly, price can easily be changed whiles in Perfect competition price cannot due to the competition in the system.
2) The monopoly's products have no close substitute whiles perfect competition's product have.
- microeconomics - monopoly vs perfect competition - arthur, Tuesday, April 29, 2008 at 1:27pm
Monopolistic market operates under the following assumptions:
a. there is only one seller
b. THE PRODUCT HAS NO CLOSE SUBSTITUTES
c. High barriers of entry into the market exists
Perfect competition is ruled by competition(there is more than one company
competing for sales of the same or similar
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- microeconomics - monopoly vs perfect competition - rey4wte, Friday, April 10, 2009 at 10:48am
- microeconomics - monopoly vs perfect competition - noor, Friday, January 22, 2010 at 6:24am
in perfect competition there is free entry of markeys
- pure competition - josephine, Tuesday, December 21, 2010 at 3:28pm
a market with many buyers and sellers
- microeconomics - monopoly vs perfect competition - haroon, Wednesday, November 30, 2011 at 2:01pm
basic contrast between monopoly and imperfect compitetion
- microeconomics - monopoly vs perfect competition - Raazia khan, Wednesday, January 30, 2013 at 8:26am
The basic difference between monopoly nd perfect competition is
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