Question

Give me the Conclusion on the topic Comparative Study between monopoly and monopolistic competation market .

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Answer 1

monopoly: A market where one company is the sole supplier. Monopolistic competition: A type of imperfect competition such that one or two producers sell products that are differentially from one another as goods but not perfect

Monopolistic competition is a form of competition that characteristic a number of industries that are familiar to consumers in their day-to-day lives. Examples include restaurants, hair salons, clothing, and consumer electronics

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Answer 2

Answer:

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Explanation:

A monopoly is the type of imperfect competition where a seller or producer captures the majority of the market share due to the lack of substitutes or competitors. A monopolistic competition is a type of imperfect competition where many sellers try to capture the market share by differentiating their products.