Discuss the characteristics of monopolistic market in detail. Name five different companies that...

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Discuss the characteristics of monopolistic market in detail. Name five different companies that belongs to this market. Compare and contrast monopolistic competitive market with Oligopoly. Illustrate how natural Gas market is related to the above markets and why its price is rising these days. Paper must be2 pages typed and double spaced.

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Discuss the characteristics of monopolistic market in detail. Name five different companies that belongs to this market. Compare and contrast monopolistic competitive market with Oligopoly. Illustrate how natural Gas market is related to the above markets and why its price is rising these days. Paper must be2 pages typed and double spaced.
MONOPOLISTIC COMPETITION: This structure marries the features of both perfect competition and monopoly
· Relatively Large Number of Sellers: the number of firms is lesser than in perfect competition, but each firm has some limited monopoly over its product. As a result the firm faces a downward sloping demand curve, but it is flatter compared to a monopolist’s demand curve. Each firm enjoys some freedom to fix prices, but is constrained by the fear that too high a price will drive customers away as they have alternatives available in the market. Each firm enjoys small, but significant market share.
· Differentiated products: All goods are not homogeneous, but are close substitutes of each other. Such a group is a ‘product group’ -within a group there is strong competition.

Discuss the characteristics of monopolistic market in detail. Name five different companies that belongs to this market. Compare and contrast monopolistic competitive market with Oligopoly. Illustrate...

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