Monopolistic Competition: Characteristics, Features, Equilibrium Under

Monopolistic competition is a market structure that lies between the extreme cases of competition and monopoly. Competition and monopoly lie at opposite ends of the market spectrum. Perfect competition and monopoly are rarely found in the real world and thus they do not represent the actual market situation.

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What is Monopolistic Competition?

Assumptions of Perfect Competition

Assumptions of Perfect Competition What is Perfect Competition? Perfect competition refers to a market situation in which there are a large number of buyers and sellers of homogeneous products. The…

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Assumptions of Perfect Competition