Address the differences between monopolies, monopolistic competitions, and oligopolies.
Please refer attached file for solution in tabular form.
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
Monopolistic Competition: Many real or ...
Solution compares the characteristics of monopolies, monopolistic competition and oligopolies.