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What are the main differences between imperfect competition and monopoly market structures?
Pages 3 (753 words)
It is a fact that monopolies are bad for the consumer market structures because they lead to an authoritative regime in place which can mean that there are no competitors and hence a great amount of one-man-rule that shall rule the roost in essence. …
It is a fact that monopolies are bad for the consumer market structures because they lead to an authoritative regime in place which can mean that there are no competitors and hence a great amount of one-man-rule that shall rule the roost in essence. What is most significant is the fact that monopolies and imperfect competition structures should be kept at a safe distance from the shores of any organization that wants to grow beyond its expectations. Also the consumers would be given the best possible space that they richly deserve and hence their predicaments would be taken care of, the sooner the better. Perfect competition remains a much desired for act that industries would always like to have within their ranks but this is hardly the case as there is a great amount of significance on having monopolies and imperfect competition market structures – the result of which are severe prices meted out on to the consumers with no possible alternatives in sight. Moving on with the discussion, imperfect competition is in direct negation with perfect competition because the latter makes sure that the end consumers are given the best possible return on their money and their shopping realms are safeguarded in such a manner that they believe in trying different products and services which are available to them. However what monopolies bring to the fore is nothing short of bad blood, where one organization believes in doing everything while the rest are just not present (Carlton 2005). ...
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