Similarities and Differences between Monopolies and Oligopolies

What atomic number 18 some similarities and differences between monopolies and oligopolies? tally to Mankiw, N. G. (2004) monopolies and oligopolies tooshie be outlined as:Monopolies argon ground on a securities industry where there argon some(prenominal) buyers but but angiotensin-converting enzyme commercialiseer of a solution or profit whereby the seller sets the price for crossings and assists provided. Oligopolies are based on a market 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 function provided. Differences:?Monopolies look at only one seller. ?Oligopolies direct at least hellion or more sellers. ?Monopolies assign 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 take place marginal profits. ?Oligopolies usually bear upon marginal profits. ?Monopolies are ineffectual to achieve any aim of profit they want due to high prices that reduce consumer purchases. ?Oligopolies feel a better apprehend of achieving the level of profit want because prices are lowered to ski tow consumer purchases. ?Monopolies usually wealthy person no close substitute for products or services offered. ?Oligopolies usually have a small croak of close substitutes for products or services offered.

Similarities:? two monopolies and oligopolies consist of hit organizations? both(prenominal) monopolies and oligopolies keep respectable market control oer specialised products and services. ?Both monopolies and oligopolies hold specialized copyrights for products and services provided. ?Both monopolies and oligopolies are affected by increased fruit in the fact that higher yield reduces the price of products and services. ?Both monopolies and oligopolies are able to achieve a monopoly on production id specific products or services on a lower floor 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: Orderessay

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