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nataly862011 [7]
3 years ago
11

Which best states the main difference between a monopoly and pure competition?

Business
2 answers:
Dennis_Churaev [7]3 years ago
8 0

Answer:

Monopoly involves no competition at all while pure competition involves high competition

Explanation:

Brut [27]3 years ago
3 0
When you have a monopoly you have a product or service on the market with no competition. On the flip side, in a pure or perfect competition there are various competitors selling the same product or service as you. The main difference between these two are that a monopoly involves no competition at all while a pure competition involves a high level of competition. (the first choice)

The second choice is incorrect because it is harder to establish a product in a pure competition market because you are competing with other companies. 

The third choice is incorrect because a monopoly refers to a company with a product or service and no competition whereas a pure competition refers to one with the same products or services. 

The forth choice is incorrect because they can be present in various economy structures.

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