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Watch this video( Oligopolies and Monopolistic Competition ) to help you prepare for this week’s discussion: https://www.youtube.com/watch?v=PzDthFTzEa0&feature=emb_logo Reply to these prompts using...

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Watch this video(Oligopolies and Monopolistic Competition) to help you prepare for this week’s discussion:
https://www.youtube.com/watch?v=PzDthFTzEa0&feature=emb_logo

Reply to these prompts using the company for which you currently work,a business with which you are familiar,or a dream business you want to start:

  • Does the business operate in a market that is characterized by perfect competition,monopolistic competition,oligopoly,or pure monopoly?Explain how you drew your conclusion about its market structure.


Answered Same Day Aug 01, 2021

Solution

Komalavalli answered on Aug 01 2021
150 Votes
Business which I going to explain is about Restaurant
Oligopoly market feature:
There are few large firms in the market which produces homogenous or differentiated products. There is a ba
ier to entry and exit in the market. Firms are price setters. In oligopoly firms will produce outcome either in collusive or non collusive manner. The behavior of a seller under non-collusive oligopoly will depend on how he thinks his rivals will react to his...
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