Question

Differentiate between monopoly and monopolistic market?​

Answer 1

A monopoly market structure has a single-player operating in it. There are a few players present in a monopolistic market that results in competition. A single product is offered in monopoly with no close substitute. However, there are substitutable products in a monopolistic one.

Answer 2

Explanation:

A monopoly market structure has a single-player operating in it A single product is offered in monopoly with no close substitute.

monopolistic market that results in competition

However, there are substitutable products in a monopolistic one.

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