Tag Archives | Monopolistic Competition

Essay on Monopolistic Competition | Markets | Economics

In this essay we will discuss about:- 1. Meaning of Monopolistic Competition 2. Features of Monopolistic Competition 3. Price Output Determination 4. Selling Costs. Essay on Monopolistic Competition Essay # 1. Meaning of Monopolistic Competition: Economists found that perfect competition and pure monopoly were unrealistic market situations. The actual market situations are somewhere between perfect competition and pure monopoly. The [...]

By |2017-12-11T04:31:06+05:30December 11, 2017|Monopolistic Competition|Comments Off on Essay on Monopolistic Competition | Markets | Economics

Product Differentiation: Sources and Importance | Economics

In this article we will discuss about the sources and importance of product differentiation. Product variation refers to any change that alters 'the physical characteristics of a product' or 'the conditions under which it is sold' like changing the colour of a toothpaste tube. This is done by firms to raise their market share of a product. Consider, for example, [...]

By |2017-01-13T05:58:19+05:30January 13, 2017|Monopolistic Competition|Comments Off on Product Differentiation: Sources and Importance | Economics

How is Excess Capacity Created? | Monopoly | Economics

The following article will guide you about how is excess capacity created in a monopolistic competition. One of the characteristics of monopolistic competition, as distin­guished from perfect competition, is the existence of excess capacity. Excess capacity refers to a long-run departure from the ideal output. It is that output "associated with minimum long-run average cost." Excess capacity has been defined [...]

By |2017-01-13T05:58:19+05:30January 13, 2017|Monopoly|Comments Off on How is Excess Capacity Created? | Monopoly | Economics
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