Advertisements
Advertisements
Question
Give three differences between Perfect Competition Market and Oligopoly market.
Distinguish Between
Advertisements
Solution
| Sr. No. | Basis | Perfect Competition | Oligopoly Market |
| 1. | Number of sellers | A large number of sellers operate in the market. | Only a few large firms dominate the market. |
| 2. | Product differentiation | Products offered are identical or homogeneous. | Products differ in terms of quality, colour, branding, or other features. |
| 3. | Pricing power | Firms do not have control over prices and act as price takers. | Firms enjoy considerable control over pricing and act as price makers. |
shaalaa.com
Is there an error in this question or solution?
