Sole proprietorship in Monopolistic Competition
Updated: 10/10/2018
Sole proprietorship in Monopolistic Competition
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Storyboard Text

  • Sole Proprietorship exists only in Monopolistic Competition. Therefore, small businesses including sole proprietorship are the types of businesses that dominate this type of market.
  • Sole Proprietorship in Monopolistic Competition 
  • I wonder how the small businesses dominate?
  • So because small businesses are owned by one person, there's more small businesses?
  • Yes, there can be many small businesses around to dominate because they are solely owned by one person.
  • Why don't big businesses control the market?
  • That's because Monopolistic Competitions are characterized by many buyers and sellers. Therefore, there is no big business to control the market, leaving it up to the small businesses to dominate.
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