Monopolistic and Oligopolistic are reasonably much the same except for the size of the fabrication companies. In simple footings. a monopoly is where there is a individual marketer in the selling industry and an oligopoly is where there is little group of Sellerss in the same field in marketing industries.
When it comes to a monopolistic competition. this is where a market construction has a big figure of Sellerss. each of which is comparatively little and posse a really little market portion. An oligopoly market is where there are fewer big manufacturers who are present in the industry universe and history for most of the end product in the industry. there are many little houses but these few big houses dominate and have concentrated market portions. Oligopoly besides has more barriers to entry than a monopolistic.
I would state that Comcast the overseas telegram company is a Monopolistic competition in the market right now. The ground I say this. is because there is non much options for amusement when it comes to overseas telegram. Comcast has made their name around the state. supplying what other companies are non. Making them a monopoly amounts other companies.
I would see breakfast cereal companies an oligopoly because there are four breakfast cereal manufactures that I know of. Kellogg. Post. Quaker and General Mills. Because there are merely four companies viing to do breakfast cereal. they are called an oligopoly. Whereas. merely one company viing to supply overseas telegram Television to the clients. they are called monopoly.
