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  2. Monopolistic competition - Wikipedia

    en.wikipedia.org/wiki/Monopolistic_competition

    A monopolistically-competitive company might be said to be marginally inefficient because the company produces at an output where average total cost is not a minimum. A monopolistically competitive market is a productively inefficient market structure because marginal cost is less than price in the long run.

  3. Monopoly - Wikipedia

    en.wikipedia.org/wiki/Monopoly

    There are four basic types of market structures in traditional economic analysis: perfect competition, monopolistic competition, oligopoly and monopoly. A monopoly is a structure in which a single supplier produces and sells a given product or service.

  4. Monopoly price - Wikipedia

    en.wikipedia.org/wiki/Monopoly_price

    Market power is the firm's ability to affect terms and conditions of exchange. [13] A monopoly possesses a substantial amount of market power, however, it is not unlimited. A monopoly is a price maker, not a price taker, meaning that a monopoly has the power to set the market price.

  5. Market structure - Wikipedia

    en.wikipedia.org/wiki/Market_structure

    The imperfectly competitive structure is quite identical to the realistic market conditions where some monopolistic competitors, monopolists, oligopolists, and duopolists exist and dominate the market conditions. The elements of Market Structure include the number and size of sellers, entry and exit barriers, nature of product, price, selling ...

  6. Oligopoly - Wikipedia

    en.wikipedia.org/wiki/Oligopoly

    One form of collusive oligopoly is a cartel, [18] [better source needed] a monopolistic organisation and relationship formed by manufacturers who produce or sell a certain kind of goods in order to monopolise the market and obtain high profits by reaching an agreement on commodity price, output and market share allocation. However, the ...

  7. Non-price competition - Wikipedia

    en.wikipedia.org/wiki/Non-price_competition

    Monopolistic market structures also engage in non-price competition because they are not price takers. Due to having rather fixed market prices, leading to inelastic demand, they engage in product differentiation. Monopolistic markets engage in non-price competition because of how the market is designed where the firm dominates the market.

  8. Monopolistic competition in international trade - Wikipedia

    en.wikipedia.org/wiki/Monopolistic_competition...

    Monopolistic competition models are used under the rubric of imperfect competition in International Economics. This model is a derivative of the monopolistic competition model that is part of basic economics.

  9. Market (economics) - Wikipedia

    en.wikipedia.org/wiki/Market_(economics)

    In monopolistic competition, a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other firms. The "founding father" of the theory of monopolistic competition is Edward Hastings Chamberlin, who wrote a pioneering book on the subject, Theory of Monopolistic Competition (1933).