Professional Documents
Culture Documents
Activity and Assignment 4
Activity and Assignment 4
II. ASSIGNMENT #4
3. What SMEs operate in perfect competition and monopolistic competition market structures?
A monopolistic market and a perfectly competitive market are two market structures that
have a few key qualifications regarding piece of the pie, value control, and obstructions to
passage. In a monopolistic market, there is just a single firm that directs the cost and
supply levels of labor and products, and that firm has complete market control. Examples
are restaurants, hotels, and firms. As opposed to a monopolistic market, a perfectly
competitive market is made out of numerous organizations, where nobody firm has market
control. In reality, no market is simply monopolistic or completely aggressive. Each true
market consolidates components of both of these market types. Examples of monopolistic
market are street food vendors, free software and agriculture markets.