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Disadvantages And Disadvantages Of Perfect Competition And Oligopoly

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1.0 Introduction

Perfect Competition
Perfect competition is a single firm that provisions a specific decent or benefit, and that firm can charge whatever value it needs since customers have no choices and it is troublesome for would-be contenders to enter the marketplace.

Monopolistic Competition Market circumstance halfway between the extremes of Perfect competition and Monopoly business model, and showing highlights of the both.

Oligopoly
Oligopoly is a market structure whereby only a few firms dominate.. Though a few firms are in control, it is possible that many small firms may also function in the market.

Monopoly
Monopoly is market structure characterized by a single seller, selling unique product with the restriction for a new firm to enter the market.

2.0 Advantage and Disadvantage

a) Perfect Competition
Advantage
1. Perfect competition is that chances of consumer exploitation is low if there should be any of this sort of market structure because in perfect competition dealers don 't have any monopoly pricing power valuing and subsequently they can 't impact the cost of item or charge higher than ordinary cost from customers.
2. Advantage is consumer get standardized product irrespective of the place of purchase of product.
Disadvantage
1. The disadvantage of Perfect competition is that the profit margin is fix and seller can 't charge higher than typical value which is prevailing in the market because consumer will move to different

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