Economy, asked by sonakshigarg2374, 10 months ago

What is a monopolistic market? Mention any four of its components.

Answers

Answered by vasudevanlegend

Answer:

Explanation:

MONOPOLISTIC MARKET IS A MARKET SITUTATION, WHERE THERE WILL BE LARGE NUMBER OF SELLERS WITH PRODUCT DIFFERENTATION.

COMPONENTS:

LARGE NUMBER OF SELLERS
PRODUCT DIFFERENTATION
FREE ENTRY AND EXIT OF FIRMS
SELLING COST

Answered by Anonymous

A monopolistic market is a theoretical construct that describes a market where only one company may offer products and services to the public. A monopolistic market is the opposite of a perfectly competitive market, in which an infinite number of firms operate. In a purely monopolistic model, the monopoly firm can restrict output, raise prices, and enjoy super-normal profits in the long run.

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