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Monopolistic Competition and Oligopoly

Monopolistic Competition and Oligopoly. Monopolistic Competition. Firms are more competitive than monopolists. Characteristics: Relatively large number of sellers: each seller has small market size, no collusion. Differentiated product: product attributes, services, location, brand name.

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Monopolistic Competition and Oligopoly

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  1. Monopolistic Competition and Oligopoly

  2. Monopolistic Competition • Firms are more competitive than monopolists. Characteristics: • Relatively large number of sellers: each seller has small market size, no collusion. • Differentiated product: product attributes, services, location, brand name. • Advertisement • Easy entry

  3. Oligopoly • Firms are more monopolists than competitive. • Characteristics: • Few large firms. • Entry barriers. • Interdependence.

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