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antiseptic1488 [7]
3 years ago
9

Distinguish between monopoly and monopolistic competition

Chemistry
1 answer:
blondinia [14]3 years ago
7 0

Answer:

<u>○</u><u>MONOPOLY</u><u> </u><u>○</u>

○1▪︎Monopoly is the type of imperfect competition where a seller or producer captures the majority of market share due to lack of substitutes or competitors.○

○2▪︎Nil competition exists as only one seller present in the market.○

<u>○</u><u>MONOPOLISTIC</u><u> </u><u>○</u>

○1▪︎Monopolistic competition is a type of imperfect competition where many sellers try to capture market share by differentiating their products.○

○2▪︎Very high competition exists as there are many sellers.○

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