There will be a single seller in monopoly. This is exactly opposite to perfect competition. Characteristics There is only one firm selling the product. The…

Monopolistic competition refers to a situation where the product to be sold is differentiated and there are many sellers operating to sell it. The competition…

In the short run it is assumed that entry and exit is not possible for firms. The aim of every firm is to maximize its…

If industry seems to be profitable new firms would be attracted to enter it. But in lieu of product differentiation they have to incur costs…

The duopoly market structure has the following characteristics. Characteristics The number of sellers in this market structure is only two. The decision of the sellers…

Oligopoly is a situation where a few large firms compete against one another and are interdependent with respect to decision making. Characteristics  There are small…

Competition varies widely in different market structures. Perfect competition and monopoly are the two extremes. At one end, we find intense competition. While, no competition…

The different market structures have different view points with respect to competition. In monopoly, competition is not fierce as the monopoly firm has an advantage…

The different market structures adopt different pricing strategies. A few pricing strategies help deterring the entry of competitors. They may also enhance competitive strength and…

The markets in which the firms operate can be classified according to nature of transaction, time, volume, status, regulation, area and structure. According to structure…