Question

Which statement is true about the relationship between a monopoly and its competition in a market?

Answer 1

monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another and hence are not perfect substitute .in monopolistic competition,a firm taken the prices on the prices of other firms.in the presences of coercive government,monopolistic competition will fall into government granted monopoly . unlike perfect competition, the firm maintain spare capacity model s of monopolistic competition are often used to model industries. textbook example of industrial with market structures similar to monopolistic competition include restaurants, cereal, clothing, shoes, and services industries in large cities the "founding father "of the theory of monopolistic competition is Edward Hastings chamberlin ,who wrote a pioneer ing book on the subject , theory of monopolistic competition.joan Robinson published abook of imperfect competition with a comparable theme of distinguish ing perfict form imperfect competition.

Answer 2

Monopolies are formed when they buy out their competition in a market is a true statement about the relationship between a monopoly and its competition in a market.

Explanation:

• Monopoly rivalry is a form of the uneven market such that certain firms sell products that are distinguished from each other and therefore are not a perfect substitute.
• Through monopoly competition, a company has taken advantage of other competitors' markets. In the case of authoritarian regulation, monopoly competition would break into the monopoly granted by the government.
• Unlike perfect competition, companies often use model industries to maintain spare capacity models of monopoly competition. Examples of industrial textbooks with market formations similar to monopoly competition include restaurants, cereals, clothing, shoes, and services in big cities.

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