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    Market structures: Categorizing 5 industries

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    Which of the following industries would you classify as an oligopoly? Which would you classify as monopolistically competitive? Make sure in your answer to relate it to the characteristics of the market structures. Explain your answer. If you are not sure, what information do you need to know to decide?

    a.) Athletic shoes
    b.) Restaurants
    c.) Watches
    d.) Aircraft
    e.) Ice Cream

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    https://brainmass.com/economics/oligopoly/market-structures-categorizing-5-industries-465452

    Solution Preview

    a.) Athletic shoes
    c.) Watches
    d.) Aircraft
    Oligopoly. The market is dominated by a few large sellers (Nike, Adidas, Seiko, Rolex, Boeing, Lockheed...) because of the very high entry ...

    Solution Summary

    This solution categorizes five industries as either oligopoly or monopolistic competition and gives reasons for the choices based on the characteristics of the markets.

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