Monopolistic completion and oligopoly are examples of what?
Oligopoly and monopolistic competition have some similarities, but also have a few important differences. Both are examples of imperfect competition on the market structure continuum between ideals of perfect competition and monopoly. [ However, oligopoly contains a small number of large firms and monopolistic competition contains a large number of small firms. The dividing line between
oligopoly and monopolistic competition can be blurred due to the number of firms in the industry.
Oligopoly is a market structure containing a small number of relatively large firms, with significant barriers to entry of other firms. Monopolistic competition is a market structure containing a large number of relatively small firms, with relative freedom of entry and exit. While it might seem as though the difference between oligopoly and monopolistic competition is clear cut, such is not always the case. ]
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