Difference between monopoly,oligopoly,perfect competition & monopolistic compitition in tabular form?


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confused dotcom answered
Sorry, I don't have time to put this in tabular form, but I will summarise the main points.

A monopoly is where there is a single seller
An oligopoly is where there is small group of sellers, around 4

Perfect competition, is best compared to a "market stalls", it consists of easy entry and exit, with no barriers to trade. Homogeneis goods are sold. It also entails the freedom of information, ie. All sellers know the same. This is the oppositte to monopolistic competition, where a large number of firms, sell differentiated items.

Let me know if that helps!

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