Monopoly competition and perfect competition
Write down the differentiations between monopoly competition and perfect competition?
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In a monopoly, you are gaining inequitable benefits over any competition since you own so numerous infrastructures. Monopolies employed to be known as a trust that is why you sometimes hear of Anti Trust Law issues.
At one time, T and AT owned every phone line, each phone and each part of phone equipment in the country.
They monopolized the industry; how could you vie with them when they owned everything? Likewise, the Post Office has a brilliant infrastructure for delivering mail, however they don’t have a monopoly since UPS and FedEx and DHL have all found ways to carve a healthy piece of the parcel moving business, so though UPS always grumbles about the Post Office.
Suppose a doctor has a private clinic in New Delhi and his annual earnings are of Rs10 lakh. When he works in a Government Hospital in New Delhi, his annual earnings are of Rs 8 lakh. Determine the opportunity cost of encompassing a clinic in New Delhi?
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