Distinguish between the following: 2. Perfect competition and Monopoly

Distinguish between the following:

2. Perfect competition and Monopoly

Answer: 

Perfect Competition
Monopoly
There are a large number of buyers and sellers. 
There are a large number of buyers but only one seller. 
Price discrimination is not possible. 
Price discrimination is possible. 
There is free entry and exit of firms.
The entry and exit of firms is restricted.


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