2.
is a complete negation of competition.
(a) Perfect competition
(b) Oligopoly
Answers
Answer:
When we compete against others with the intention of winning at their expense, this is known as negative competition.
Explanation:
Step 1:Because oligopolies control pricing, they have market power in the economy and are able to raise prices, which has an impact on consumers. However, in an environment of perfect competition, several producers of comparable goods allow customers to select between businesses.
Step 2: Due to the presence of several businesses in both markets, competition is present in both perfect competition and oligopolies. Both perfect competition and oligopoly, when marginal revenue matches marginal cost, maximise profit.
Step 3:The market structure is known as an oligopoly if there are few sellers on a given commodity's market, even when there are several vendors.
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