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1.5: Monopolistic Competition, Oligopoly, and Monopoly

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  • Page ID
    3975

    • Learning Objective

    1. Describe monopolistic competition, oligopoly, and monopoly.

    Economists have identified four types of competition—perfect competition, monopolistic competition, oligopoly, and monopoly. Perfect competition was discussed in the last section; we’ll cover the remaining three types of competition here.