Economics for Business - Answer 1 Differences between characteristics of monopoly, perfect competition, monopolistic competition and oligopoly. Headings Perfect competition Monopoly Monopolistic competition oligopoly Number of firms in the market There are very large number of buyers and sellers in the market under perfect competitio…
Economics for Business - Question 1 Basis of difference Perfect Competition Monopoly Monopolistic Competition Oligopoly Number of firms in the market There is large number of firms in the perfect competition market. There is only single seller in the monopoly market. There are many numbers of firms in the mon…
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