Monopolistic competition has many sellers offering slightly different products, enhancing consumer choices. Markets with monopolistic competition are considered advantageous for both businesses and ...

Paul Blacklow is affiliated with Economic Society of Australia. This article is part of The Conversation’s “Business Basics” series where we ask experts to discuss key concepts in business, economics ...

Perfect competition is a theoretical model with many buyers and sellers offering identical products. In this model, firms cannot influence prices and make zero long-term profit due to free entry and ...

To wind up its three-month investigation of steel-pricing policies, the Senate Antitrust and Monopoly Subcommittee last week put on the stand former Treasury Secretary George M. Humphrey, now chairman ...