An example of monopoly market structure is when there is one supplier firm in the market that dictates the prices of a specific commodity. The firms in the market will sell highly differentiable products. Examples are two types of firm in the market that all sell ladies oil. Firm A sell ladies oil for skin care and the other firm b sells ladies oil that is used for hair coloring. The two products might seem to be the same but there is a great differentiation according to their use. The two products are therefore not close substitute and the firm that sell this oil are said not to be in competition. There are vey high levels of barrier to entry under the monopoly type of market. The two types of firm A and B will do anything to keep other firms from entering in the ladies oil market.
perfect vs monopolistic competition market structures
A simple Microeconomics video on perfect competition and monopolistic competition market structure....
Created by: Edbert, Michael, Randy, Rizal, and Sianne
markets with monopoly market structures
Fiji Commerce Commission (“Commission”) is the Competition Regulator of Fijian. The Commission is an independent statutory body established under Section 7 of the Commerce Commission Decree 2010 to ensure the integrated framework for the regulation of monopoly market structures; encourage competition, prevent restrictive trade practices, ensure consumer protection, and undertake pricing of public utilities and other price controlled items.
tive monopoly market structures