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Advantages and Disadvantages of Monopolistic Competition

Some of the Advantages and Disadvantages of Monopolistic Competition are as follows. So let us check it out some information on monopolistic competition to know more about it.

Advantages of Monopolistic competiton are :

  1. In mopolistic competiton the market is more efficient than monopoly but it is less efficient than perfect competition.
  2. In monopolistic competiton differentiation creates choice, diversity and utitlity.
  3. Markets are relatively contestable as there are no significant barriers to entry in monoplistic competiton
  4. Numerous sellers

Disadvantages of Monopolistic competition are :

  1. In monopolistic competiton higher price is charged and control over price is limited.
  2. No market control or limited market power
  3. Non-price competiton
  4. In monoplistic competiton large firms have a cost advantages over small firms.
  5. You might also like advantages and disadvantages of monopoly to learn more about monopoly.



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Process Validation Types

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Retrospective process validation: "Documented evidence - Validation carried out based on the analysis and review of the historical data"

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MIS is the study of the  organizations, people and technology,to know the relationship among them in terms of computer system.

MIS study using computerized system is used to evaluate the efficiency and effectiveness of decision making of people in an organization.

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