Plz explain the mobility of factors of production in case of different mkt forms with reasons
Dear student,
The mobility of factors of production in different forms of market can be explained as follows:
The mobility of factors of production in different forms of market can be explained as follows:
- Perfect competition: The factors of production are perfectly mobile
- Monopolistic competition: There is immobility of factors of production and they cannot move from one industry to another
- Monopoly: There is lack of freedom of mobility of factors of production.
- Oligopoly: There is immobility of factors of production