Explore BrainMass
Share

Comparing different market structures

This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

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

© BrainMass Inc. brainmass.com March 21, 2019, 8:47 pm ad1c9bdddf
https://brainmass.com/economics/monopolies/comparing-different-market-structures-348381

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.

$2.19