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Managerial Economics - Market Structure

Difference Between Perfect And Monopoly Market - Market Structure

   Posted On :  29.05.2018 09:22 pm

Difference Between Perfect And Monopoly Market

Difference Between Perfect And Monopoly Market:
 

1.      Perfect market is unrealistic in practical life. But slowly certain commodities are moving towards it. Monopoly market exists in real time.

 2.      Under perfect market only homogenous products are sold but on the other hand monopoly market deals with different products.
 
3.      Under perfect competition, price is determined by demand and
 
supply of the market. But in monopoly the seller determines the price of the good.
 
4.      Monopolist can control the market price but in perfect competition the sellers have no control over the market price.
 
5.      There is no advertisement cost in perfect market. In other markets it is essential and it is included in the cost of production and is reflected in the price.
 
6.      Monopolist sell their products higher than the perfect competitors except when there is government regulation or adverse public opinion.

 

Tags : Managerial Economics - Market Structure
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