Question

Selling outlay is an essential part of which of the following market situation
a)Monopolistic Competition
b)Perfect Competition
c)Monopoly
d)Pure Competition

Answer 1

A monopolistic market and a perfectly competitive market are two market structures that have several key distinctions, such as market share, price control and barriers to entry. In a monopoly, there is only one firm that dictates the price and supply levels of goods and services and has total market control. Contrary to a monopolistic market, a perfectly competitive market is composed of many firms, where no one firm has market control. In the real world, no market is a pure monopoly or perfectly competitive. Every real-world market combines elements of both of these ideal types.