Data Analysis
Author:
Genre: Finance

Explain duopoly and monopolistic competition market structures, and identify the key factors that distinguish them

About the Book

Data Analysis

Every industry has a certain market structure in an economy depending upon the number of producers which are supplying the goods to the consumers. The numbers of the suppliers operating in the market is decided by many factors based on the market dynamics and the regulations in the economy which further decides the behavior of the firms and the market efficiency. The market structure can be segregated in terms of Monopoly (one supplier) or Duopolistic (two suppliers) or Oligopolistic (few suppliers) or Monopolistic (many suppliers) markets. Each of these different market structures have different characteristics and thus the way the firms work in an economy. The different forms of the market structure thus have their own advantages as well as their shortcomings and these market structures are present in every country and region of the world (Morris 2005, pp. 231-237). The essay here tries to discuss the monopolistic and duopolistic market structures and their characteristics. The essay would further also discuss the monopolistic and duopolistic market structures in detail by going through the examples of Chinese industries which exhibit such behaviors.

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