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what is the difference bitween monopolic competition and
under perfect competition
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Answer / kalyan
Under monopolic competetion only one seller exist with the
unique product to sell, without any competetion to that
particular product. He dominates the price factor.
Perfect competetion many sellers exist.
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / rajneesh
monopolic competiton has concentration of wealth and power
of economy,it means total power is in hand of one
manufacturer but in perfect competetion there are numburs
oo buyers and sellers selling homogenious products.
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / ad
A monopolistic seller is a price maker - i.e. He can charge
any price for his goods.
A perfect competetive seller is a price taker - i.e. He can
only sell goods @ the price @ which others r selling
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / cartikn10
homogeneous product. Because the conditions for perfect
competition are strict, there are few if any perfectly
competitive markets. Still, buyers and sellers in some
auction-type markets, say for commodities or some financial
assets, may approximate the concept.
Monopolic Competition: In economics, a monopoly exists when
a specific individual or an enterprise has sufficient
control over a particular product or service to determine
significantly the terms on which other individuals shall
have access to it.
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