Dr. Reed Fisher of Johnson State College lists the key characteristics of monopolistic competition as the number of firms in the market, the ease of access to the market and product differentiation. In monopolistic compe... More »

Monopolies have a negative effect on the entire economy by making it harder for consumers to purchase goods, a trend that leads to lower production in the system. High prices do not affect only the consumer, they end up ... More »

Some examples of monopolistic competition include restaurant chains and cereal brands. In monopolistic competition, many producers sell differentiated products that are not exactly alike. More »

Perfect competition is characterized by factors like multiple sellers (or competitors), identical products on the market, sellers accepting rather than influencing market prices and free entry and exit into the given ind... More »

Advantages of the Association of Southeast Asian Nations include the elimination of tariffs between member states, which has reduced product prices due to increased competition within the market, and possible investment ... More »

A horizontal merger is a merger between competing firms offering similar products or services to the same market. Such a merger results in a larger firm with more market share and power and reduces competition in the mar... More »

Globalization is generally regarded as a good thing because it creates open market opportunities and fosters efficiency between suppliers, partners and customers through a network of distribution; for example, a company ... More »

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