What are the features of an imperfect or monopolistic market?

  • Google+ icon
  • LinkedIn icon

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...

About the author

is an online A Level Economics tutor with MyTutor studying at Bristol University

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

95% of our customers rate us

Browse 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