MYTUTOR SUBJECT ANSWERS

568 views

What are the features of an imperfect or monopolistic market?

This is the market structure that is more commonly found in the real world. It borrows its characteristics heavily from both perfectly competitive markets and monopolies. It's characteristics are as follows:

- A large number of firms that act independently

- Product differentiation

- Freedom of entry into, and exit out of, the market.

- Non-price competition

- Excess capacity (the difference between cost minimisation output and profit maximisation output)

Shyam S. GCSE Maths tutor, A Level Economics tutor, GCSE Economics tu...

2 years ago

Answered by Shyam, an A Level Economics tutor with MyTutor


Still stuck? Get one-to-one help from a personally interviewed subject specialist

59 SUBJECT SPECIALISTS

£22 /hr

Sam F.

Degree: Economics with Placement (Bachelors) - Bath University

Subjects offered:Economics, Physics+ 2 more

Economics
Physics
Maths
Extended Project Qualification

“Studying for BSc Hons Economics, A level economics, maths and physics. Able to tutor GCSE/AS/A2 Economics, Maths and GCSE physics! ”

£26 /hr

Oscar A.

Degree: Politics, Philosophy and Economics (Bachelors) - Oxford, Balliol College University

Subjects offered:Economics, -Oxbridge Preparation-

Economics
-Oxbridge Preparation-

“2nd year Oxford PPEist, prize-winner and experienced tutor offering economics tutorials”

Megan J. A Level Business Studies tutor, GCSE Business Studies tutor,...
£22 /hr

Megan J.

Degree: BSc Business (Bachelors) - Lancaster University

Subjects offered:Economics, Extended Project Qualification+ 2 more

Economics
Extended Project Qualification
Business Studies
-Personal Statements-

“I study BSc Business at Lancaster University which is in the top 10 and the management school is triple accredited.”

About the author

Shyam S.

Currently unavailable: for regular students

Degree: Economics and Finance (Bachelors) - Bristol University

Subjects offered:Economics, Maths+ 2 more

Economics
Maths
English
-Personal Statements-

“ABOUT ME:I am an Economics and FInance student at the University of Bristol! Since I started the subject back in high school I've found a keen interest for the field and I hope that my interest can spark a development for your intere...”

You may also like...

Posts by Shyam

What are the features of an imperfect or monopolistic market?

What is the best way to study for a Maths exam?

What is the law of diminishing returns?

Other A Level Economics questions

Describe the long run aggregate supply curve.

Explain how a company would set a price if their aim was to profit maximise.

What is inflation and how does it come from supply or demand side?

Explain the factors influencing short run and long run aggregate supply

View A Level Economics tutors

We use cookies to improve your site experience. By continuing to use this website, we'll assume that you're OK with this. Dismiss

mtw:mercury1:status:ok