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Comparing different market structures

Address the differences between monopolies, monopolistic competitions, and oligopolies.

Solution Preview

Please refer attached file for solution in tabular form.

Market Characteristics

1. Number of firms/size of firms
Monopolistic Competition: Market structure is characterized by large number of relatively small firms
Oligopoly: Oligopoly has small number of relatively large firms
Monopoly: There is only one firm in this case

2. Product
Monopolistic Competition: Many real or ...

Solution Summary

Solution compares the characteristics of monopolies, monopolistic competition and oligopolies.