Comparison Essay: Perfect Competition Vs. Monopoly.

Key features of perfect competitionIn economics, a market is defined as the system, where exchange of goods and services with money takes place. There are buyers and sellers and they exchange things against money between themselves. The markets are classified into two broad categories, namely perfect and imperfect competition. Under imperfect competition, there are more classification, namely monopoly, oligopoly, monopolistic competition, etc. (…