In terms of market share, price regulation, and entrance obstacles, monopolistic and fully competitive markets differ significantly from one another. In a monopolistic market, there is only one company that has complete market dominance and sets the prices and levels of supply for goods and services.
Monopolistic markets frequently degenerate into ineffectiveness, impose greater prices on consumers than would otherwise be possible, and keep newcomers out. As a result, there exist many antitrust laws that prevent monopolies.
In contrast to a monopolistic market, which is made up of just one firm, a perfectly competitive market is made up of numerous firms. Different factors affect supply, demand, and prices in monopolistic and perfectly competitive markets. No market is entirely monopolistic or completely competitive in the actual world. Both of these market types have components in every real-world market.
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