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Artist 52 [7]
3 years ago
13

Difference between monopoly and monopolistic competition

Advanced Placement (AP)
1 answer:
kodGreya [7K]3 years ago
7 0

Answer:

monopolistic competition is when an industry has many firms offering products that are similar but not identical. unlike a monopoly, these firms have little power to set curtail supply or raise prices to increase profit. Monopolies dictate over a specific thing so they are the only thing that is selling.

Explanation:

google & known knowledge

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Josephson believed that industrialization created economic inequalities among people. Gutman, on the other hand, believes that industrialization has caused harmful tension among immigrants and natives.

Explanation:

For Josephson, industrialization created an immense social inequality between rich and poor, where the rich enriched themselves through the exploitation of workers and illegal activities that made them increasingly powerful, while the working class was increasingly exploited.

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Answer:

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