What are the monopolistic and the competitive elements of monopolistic competition? Please help.© BrainMass Inc. brainmass.com October 16, 2018, 9:11 pm ad1c9bdddf
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Monopolistic competition is a common market form. Many markets can be considered monopolistically competitive, often including the markets for restaurants, cereal, clothing, shoes and service industries in large ...
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Pure competition, pure monopoly, monopolistic competition, and oligopoly
Briefly state the basic characteristics of pure competition, pure monopoly, monopolistic competition, and oligopoly. Under which of these market classifications does each of the following most accurately fit? (a) a supermarket in your hometown; (b) the steel industry; (c) a Kansas wheat farm; (d) the commercial bank in which you or your family has an account; (e) the automobile industry. In each case justify your classification.View Full Posting Details