Comparison of the models of perfect competition and monopoly under special consideration of innovation

Essay from the year 2006 in the subject Business economics - Offline Marketing and Online Marketing, grade: A, University of Bradford, course: MBA, language: English, abstract: Two questions are covered by this paper:

2 a) Compare and contrast the models of perfect competition and monopoly. (50%)

2 b) "Monopoly profits are essential for higher innovation rates and future economic growth." Evaluate this statement. (50%)