Question

View and comment of monopoly market and perfect competition market

Answer 1

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monopoly market:-

A market structure characterized by a single seller, selling a unique product in themarket. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute.

perfect competitive market:-

In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition.

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