What Is Monopolistic Competition?

If average prices fall when firm output will increase, it means that the per-unit value falls with a rise within the scale of production. Since monopoly markets can come up when there are massive fixed prices in production and since…


Pure Competition

Pure competition, also commonly referred to as perfect competition, is a largely theoretical term to describe a market economy where products, prices and producers are all on a level playing field. The prices of goods in pure competition are set…