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Oligopoly and monopolistic competition, Amos WEB Encyclonomic WEB * pedia, // A monopolistic market and a perfectly competitive market are two market structures that have several key distinctions, such as market share, price control, and barriers to entry.The distinction between oligopolistic competition and monopolistic competition seems obvious, but this is not necessarily the case.
Difference between oligopolistic market and monopolistic market structure Market structure is the interrelated characteristics of the market such as the number of companies, the level and form of competition, the degree of product differentiation (Business Dictionary, 2012).
In this paper, we focus on two points, monopolistic competition and oligopolistic market, by discussing these differences and the impact on customers.
However, there is no clear boundary between these two market structures.
Since it is hard to say that numbers like 50 companies are dividing the boundary line, 50 companies become oligopolies and 51 companies become exclusive competitors.
In Monopolistic Competition, there are many small firms who all have minimal shares of the market.
Firms have many competitors, but each one sells a slightly different product.Oligopoly is a market structure that includes a relatively small number of relatively large companies, and brings serious obstacles to the entry of other companies.Monopolistic competition is a market structure involving a relatively small number of relatively small enterprises that enter and leave relatively freely.The most obvious difference is the number of companies involved.With oligopoly, only a few companies are on the market.In contrast, many small companies are participating in monopolistic competition.Oligopolies are usually considered to consist of 2 to 20 companies. There is no exact number of companies to distinguish between oligopolistic competition and oligopolistic competition.The Monopolistic Competition graph is the same as the monopolies graph.The firm has the same short and long equilibrium and makes zero economic profits.Firms are neither price takers (perfect competition) nor price makers (monopolies).Products are differentiated (based on things like service, quality or design).