In monopolistic competition, each firm's markup is "Less than" that in perfect competition, and the price is A firm under monopolistic competition always has excess capacity i.e. unutilized resources than in perfect competition.
Monopolistic opposition exists between a monopoly and ideal opposition, combines factors of every, and includes corporations with similar, however now not identical, product offerings. restaurants, hair salons, household items, and garb are examples of industries with monopolistic opposition.
A monopoly is the sort of imperfect opposition wherein a supplier or producer captures most people of the market proportion because of the dearth of substitutes or competitors. A monopolistic opposition is a form of imperfect competition wherein many dealers try to seize the marketplace percentage via differentiating their products.
A monopolistic marketplace shape has the capabilities of a natural monopoly, in which an unmarried company completely controls the marketplace and determines the supply and fee of a product or service. therefore, a monopolistic market is a non-competitive market.
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