Question

Highlight any three differences between monopolistic competition and oligopoly.

Give two points of difference between monopolistic and oligopoly.

Answer 1

Sr. No.	Basis	Monopolistic Competition	Oligopoly Competition
1.	Number of sellers	There are a fairly large number of sellers in the market.	There are only a few sellers in the market.
2.	Number of buyers	There is a large number of buyers in the market.	There is a large number of buyers in the market.
3.	Nature of the product	Products are differentiated by features, branding, etc.	Products can be either homogeneous or differentiated.