Select one of the market structures (monopoly, oligopoly, monopolistic competition, or perfect competition) and identify a company for that market structure. Then write a paragraph in which you describe the pricing and non-pricing strategies in use by that company.© BrainMass Inc. brainmass.com March 4, 2021, 8:10 pm ad1c9bdddf
The Pure Competitive Market is one of four market structures which is characterized by the following characteristics:
1) There are many buyers and sellers in the market.
2) The goods offered by the various sellers are largely the same (standardized or homogenous) which means that consumers are indifferent as to which firm they buy from.
3) Firms can freely enter or exit the market. This means that there are no significant legal, financial or technical barriers that prevent new firms from starting up, or old firms from closing down.
According to Mc.Connell & Brue (2005), as a result of its characteristics, the perfectly competitive market has the following outcomes:
a) The ...
This solution deals with one of the market structures as well as describes the pricing and non-pricing strategies in use by a company.