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Order new solutionEconomics for Business - Answer 1
Differences between characteristics of monopoly, perfect competition, monopolistic competition and oligopoly.
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Headings |
Perfect competition |
Monopoly |
Monopolistic competition |
oligopoly |
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Number of firms in the market |
There are very large number of buyers and sellers in the market under perfect competition, firms can enter and exit without any artificial restrictions with assumption that every firm has perfect knowledge of market. |
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