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Both Oligopoly and Monopolistic Competition have imperfect competition. This means that firms in both market structures can charge their own prices, without losing their consumers.
However, there are many differences in Oligopoly and monopolistic Competition Market structures.
Oligopoly contains a small number of large firms while Monopolistic Competition has a large number of small firms.
1) Small number of Large Firms
2) Have significant entry barriers of other firms.
3) Location-wise – Smaller towns
1) Large number of small firms
2) Free entry and exit
3) Location-wise – Large cities