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21 July, 14:09

Which best states the main difference between a monopoly and monopolistic competition?

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  1. 21 July, 14:17
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    The monopoly is only one firm that dictates the price and supplies levels of goods in-service and has total market control. But the monopolistic market is perfectly competitive market is comprised of many firms, where no one firm has market control. Hence, monopoly is best from both.
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