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Business

1 answer:

Serggg [28]3 years ago

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Explanation:

Monopolistic competition

Monopolistic competition, many seller that differentiated products - products that differ slightly but sever similar purpose. By making consumer aware of product difference, seller exert some control over price.

Oligopoly

In an oligopoly, a few sellers supply sizable portion of products in the market. They exert some control over price, but because their products are similar, when one company lowers prices, the others follow .

Monopoly

In a monopoly, there is only one seller in the market. The market could be a geographical area, such as a city or a regional area, and does not necessarily have to be añ entire country. The single seller is able to control prices

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