Asked by RyaN

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.
Answered by arthur
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
product.
Answered by okegnbat wmqilfavx
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Answered by Arames
Thanks! That was brief but helpful
Answered by meenakci
send me monopolic theory
Answered by bugkc kxujvzawt
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Answered by rey4wte
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Answered by noor
in perfect competition there is free entry of markeys
Answered by josephine
a market with many buyers and sellers
Answered by haroon
basic contrast between monopoly and imperfect compitetion
Answered by Raazia khan
The basic difference between monopoly nd perfect competition is
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