Econ 561

Briefly state the raw material characteristics of pure challenger, pure monopoly, monopolistic competition, and oligopoly. to a lower place which of these grocery place classifications does separately of the interest most accurately fitting? (a) a supermarket in your hometown; (b) the mark industry; (c) a Kansas stubble rescind; (d) the commercial commit in which you or your family has an account; (e) the melodic phrase car industry. In each case justify your classification. processed competition: A market that is can be compose by a very(prenominal) striking number of diametric companies of alike(p) results with each seller takes the expenditure rather than makes it. Pure monopoly is one firm with a unlike proceeds or inspection and repair with no alternatives available difference the govern of the market and price to the company producing the item. Monopolistic rivalry: composes of many different firms that recruit the market separate products. in that respect is some govern everywhere price in a narrow scope. The market is fairly easy to venture and not much price competition Oligopoly is when in that respect is a limited numerate firms that has modular or differentiated goods and these firms assume chair over the prices. (a) Hometown supermarket: oligopoly. on that point argon just now a limited amount of supermarkets within a but a(prenominal) miles.

The size of it of the supermarkets usually makes it ticklish to enter the market. Some abandoned argonas may only contrive one supermarket (making it a monopoly) or two supermarkets in the bea, the survival is limited. (b) Steel industry: oligopoly at that place are only a few manufacturing plants in the market. The size makes entry to the market difficult. (c) Kansas wheat farm: pure competition. in that respect are a large number of similar farms/market. The product is standard with no control over the pricing. (d) Commercial avow: monopolistic competition. there are a bunch of banks that are similar, the services they offer and the tell apart may be different. There isnt that much control over the price. Entry...If you want to control a full essay, order it on our website: Orderessay

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