Imperfect Competition (2): Other Forms

  • Jack Harvey
Chapter

Abstract

Perfect competition and monopoly represent two extreme market forms. The first, we have seen, occurs where identical goods are made by a large number of producers and there is completely free entry to the industry. The opposite market condition, monopoly, is possible where a good which has no close substitutes is made by a single producer who can prevent competitors entering the industry.

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Copyright information

© J. Harvey 1991

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  • Jack Harvey

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