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dalvyx [7]
3 years ago
15

Types of imperfect competition

Business
1 answer:
hoa [83]3 years ago
3 0
  • Monopolistic competition: A situation in which many firms with slightly different products compete. Production costs are above what may be achieved by perfectly competitive firms, but society benefits from the product differentiation.
  • Monopoly: A firm with no competitors in its industry. A monopoly firm produces less output, has higher costs, and sells its output for a higher price than it would if constrained by competition. These negative outcomes usually generate government regulation.
  • Oligopoly: An industry with only a few firms. If they collude, they form a cartel to reduce output and drive up profits the way a monopoly does.
  • Duopoly: A special form of Oligopoly, with only two firms in an industry.
  • Monopsony: A market with a single buyer and many sellers.
  • Oligopsony: A market with a few buyers and many sellers.
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The correct option is SUBSTITUTE GOOD.
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4 years ago
Describe the two basic kinds of energy and explain how energy and power are related.
hichkok12 [17]

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ur mom. stop asking for help on other ppls questions

Explanation:

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3 years ago
The two primary factors affecting an​ entrepreneur's choice of legal ownership for a venture are​ ________ and​ ________.
77julia77 [94]
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4 years ago
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PV= $81,947.83

Explanation:

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