What are some of the qualities of a monopoly vs monopolistic competition? 01 Monopoly has one...

  

Transcribed Image Text:

What are some of the qualities of a monopoly vs monopolistic competition? 01 Monopoly has one seller with high market power so it can produce lower supply, so hire less workers and costs higher prices for consumers. points Save Answer Monopolistic competition has competitive sellers, but they can charge a higher price based on advertising their product is different. 02 Monopoly has competitive sellers, but they can charge a higher price based on advertising their product is different. Monopolistic competition has one seller with high market power so it can produce lower supply, so hire less workers and costs higher prices for consumers. 03. Monopoly has a few sellers, but they can charge a higher price based on advertising their product is different. Monopolistic competition has many sellers all selling the same product at the same market price with perfectly elastic demand. 4. Monopoly has a one seller, but they can charge a higher price based on advertising their product is different. Monopolistic competition has a few sellers so there is competition but very limited so prices are higher than normal. What are some of the qualities of a monopoly vs monopolistic competition? 01 Monopoly has one seller with high market power so it can produce lower supply, so hire less workers and costs higher prices for consumers. points Save Answer Monopolistic competition has competitive sellers, but they can charge a higher price based on advertising their product is different. 02 Monopoly has competitive sellers, but they can charge a higher price based on advertising their product is different. Monopolistic competition has one seller with high market power so it can produce lower supply, so hire less workers and costs higher prices for consumers. 03. Monopoly has a few sellers, but they can charge a higher price based on advertising their product is different. Monopolistic competition has many sellers all selling the same product at the same market price with perfectly elastic demand. 4. Monopoly has a one seller, but they can charge a higher price based on advertising their product is different. Monopolistic competition has a few sellers so there is competition but very limited so prices are higher than normal.

Answer rating: 100% (QA)

Answer Explanation for all 1 Monopolies have less competitio... View the full answer