Respuesta :
Monopolies are less productive than perfectly competitive marketplaces. Companies in a competitive market have more need to improve their production efficiency so as to avoid the wasteful overproduction that results in losses or shortages and the subsequent foregone profits that result from these situations.
When the supply of products and services exactly equals the demand for them, we say that the market is operating efficiently. The inefficiency of the market results in glutes and troughs of supply and demand.
A monopolistic market is one in which one company controls both the supply and the price of all of the product or service options available to consumers. Many different companies operate in a market where none of them exerts dominance over the others. No market operates in a monopolistic or totally competitive manner in the real world.
To know the difference between Monopoly and a Perfectly Competitive Market:
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