11. COMPARISON Oligopoly Monopoly Perfect Competition Monopolistic Competition - Innovative/ creative - Few firms = greater efficiency - Expand too much - Experience diseconomy of scale - Increase in AC - No competition, no innovation - Undifferentiated products - Consumers have limited choice - BORING - Advertise and induce consumers to spend more -No control in price - Consumers suffer more
A market form where there are only a few firms in the industry but there are many buyers. Seeing the graphs, we can see that Oligopoly is more benefical because With a relatively low price, much advertising and branding, we are confident that our innovative product, the T-Reader will be a hit amongst the CA studets.
![THE NATURE OF OLIGOPOLY ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)