Monopolistic Competition in Economy - Assignment Point
Monopolistic Competition in Economy
Subject: Economics | Topics:

Monopolistic competition fluctuates from ideal competition in that invention does not take place at the lowest feasible cost. Because of this, firms are left with surplus creation ability. Here explain some characteristics of monopolistic competition: Product differentiation, Several firms, Sovereign decision making, Buyers and Sellers do not have efficient information, Various degree of market power etc.

 

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