Market structures: Categorizing 5 industries
Not what you're looking for?
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
Purchase this Solution
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.
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 ...
Purchase this Solution
Free BrainMass Quizzes
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.