Introduction • Market structure is the focus real-world competition. Market structure refers to the physical characteristics of the market within which firms interact.…
1. Monopolistic Competition 2. Introduction • Perfect competition, with an infinite number of firms, and monopoly, with a single firm, are polar opposites. • Monopolistic…
Slide 1 PAUL YUN REED WILSON Monopolistic Competition Slide 2 Characteristics There are 3 Characteristics of Monopolistic Competition (1) A relatively large number of sellers…