looking for help on economics discussion post/ 2 paragraphs

Perfect competition and monopoly are the two extremes of market structures.

Discuss the difference between the markets.
Analyze the considerations for an entrepreneur thinking about entering either market. Use examples from a business you might consider opening one day.

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Perfect Competition and Monopoly Market Structures

There are several differences between perfect competition and monopoly markets. First, there are many sellers in a perfect competition market whereas there is only one seller in a monopoly market. The monopoly has also the power and this means that consumers may be easily exploited by the monopoly in regards to the prices that are charged for various goods and services. Secondly, in a perfect competition market, the prices of goods and services are determined by the laws of demand and supply (Machovec, 2013).

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