Prepare a table to show the distinction between monopoly, monopolistic – InterviewSolution

1.

Prepare a table to show the distinction between monopoly, monopolistic competition, and oligopoly. Major points of distinction are given below in the table.Points of distinctionMonopolyMonopolistic competitionOligopolyNumber of firmsNature of the productPriceFreedom of entry and exitDemand curve

Answer»

Points of distinction	Monopoly	Monopolistic competition	Oligopoly
Number of firms	single	fairly large	A few
Nature of the product	Homogenous	Differentiated	Homogeneous or differentiated
Price	Uniform or differentiated price	Different price	Different price
Freedom of entry and exit	No freedom of entry and exit	Freedom of entry	Freedom of Entry
Demand curve	Downward sloping	Downward skloping	Indeterminate

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