explain two point of distinction between monopoly and monopolistic competiton
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The basic difference is the number of players existing in monopoly and monopolistic competition markets. A monopoly is created by a single seller whereas monopolistic competition requires at least 2 but not a large number of sellers. ... Monopoly enjoys the sole control overall characteristics of its products.
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The basic difference is the number of players existing in monopoly and monopolistic competition markets. A monopoly is created by a single seller whereas monopolistic competition requires at least 2 but not a large number of sellers. ... Monopoly enjoys the sole control overall characteristics of its products.
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