With the aid of graphs , differentiate between the perfect competition and monopoly in the short run
Answers
Answered by
2
Perfect competition can be defined as circumstances in a market which are winning in a market.There are purchasers and merchants of various types and very much educated that all components regarding restraining infrastructure are missing and the market cost of a product is outside the ability to control of individual purchasers and dealers.
A monopoly is one in which a market structure is portrayed by only one person who is selling a novel item in the market. In a restraining infrastructure showcase, the vender faces no challenge, as he is the sole dealer of merchandise with no nearby substitute.
Attachments:
Similar questions