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Unregulated monopolist might charge high prices, do little or no advertising, and offer minimal service. Regulated monopolies are required to charge lower prices.
o Oligopoly: small number of firms (usually large firms). Pure Oligopoly – few companies produce 1 commodity product, so none could charge more than going price. Differentiated oligopoly few companies offer products partially differentiated by quality, features, styling or service.
o Monopolistic Competition: Many competitors who are able to differentiate their offers in whole or part (restaurants, for example)
o Pure Competition: many competitors offer the same product and services, so without differentiation, all prices would be the same...
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