Why competitive markets is more efficient than monopolistic competition?
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Heya...
Competitive market is more efficient than monopolistic competition in terms of...
* Products of competive market are homogeneous...
* No extra selling costs so investment done by producer is good...
* Perfect mobility of Labour so less chances to stop production...
* Knowledge to consumers so no control over prices...
Competitive market is more efficient than monopolistic competition in terms of...
* Products of competive market are homogeneous...
* No extra selling costs so investment done by producer is good...
* Perfect mobility of Labour so less chances to stop production...
* Knowledge to consumers so no control over prices...
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