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What are the differences between monopoly and monopolistic competition?

      

What are the differences between monopoly and monopolistic competition?

  

Answers


Langat
In a monopoly market structure,a single product is offered by the seller and there is product differentiation.On the contrary,in a monopolistic competition,as the product offered by different sellers are close subtitutes,and so,there is slight product differentiation.
flx067 answered the question on March 1, 2018 at 06:35


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