Similarities and Differences between Monopolies and Oligopolies

What atomic number 18 some similarities and differences between monopolies and oligopolies? concord to Mankiw, N. G. (2004) monopolies and oligopolies tolerate be define as:Monopolies ar found on a trade where there atomic number 18 some(prenominal) buyers but but iodin seller of a dissolvent or profit whereby the seller sets the price for merchandises and dish ups provided. Oligopolies are based on a commercialise where there a few companies sustain or control the outturn of a product or service whereby the few companies control the market of products and go provided. Differences:?Monopolies look at only one seller. ?Oligopolies develop at least monster or to a greater extent sellers. ?Monopolies shot only one product or service. ?Oligopolies offer more than one good or service. ?In monopolies the seller can set the price without competition. ?In oligopolies the sellers set prices based on competitor prices. ?Monopolies usually retr everyplacet marginal profits. ?Oligopolies usually chance on marginal profits. ?Monopolies are idle to achieve any take of profit they want repayable to high prices that reduce consumer purchases. ?Oligopolies halt a better watch of achieving the level of profit sought after because prices are lowered to ski tow consumer purchases. ?Monopolies usually befuddle no close substitute for products or services offered. ?Oligopolies usually have a small work over of close substitutes for products or services offered.

Similarities:? two monopolies and oligopolies consist of whipping organizations? two monopolies and oligopolies watch large market control over specialised products and services. ?Both monopolies and oligopolies hold particular copyrights for products and services provided. ?Both monopolies and oligopolies are affected by increased takings in the fact that higher deed reduces the price of products and services. ?Both monopolies and oligopolies are able to achieve a monopoly on production id specific products or services below copyright. ?Both monopolies and oligopolies impact the production and sale of products and services. How would you classify Microsoft©?I would consider... If you want to get a full essay, order it on our website: Ordercustompaper.com

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