Difference between monopolistic and perfect competition

What's the difference between monopolistic competition, and perfect competition market models? Please use examples from the real life.

What's the pricing and non pricing strategies that firms rely on to compete in monopolistic competition and oligopoly market models.

What are the strategies that firms rely on in monopoly and oligopoly to sustain their economic profits overtime? Please use examples from your work or real life.

Solution Summary

What's the difference between monopolistic competition, and perfect competition market models? Please use examples from the real life.

What's the pricing and non pricing strategies that firms rely on to compete in monopolistic competition and oligopoly market models.

What are the strategies that firms rely on in monopoly and oligopoly to sustain their economic profits overtime? Please use examples from your work or real life.