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What type of market exists when a small number of businesses dominate an industry?
oligopoly
perfect com
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- WHAT IS THE DIFFERENCE BETWEEN MONOPOLY AND OLIGOPOLY? PROVIDE EXAMPLES. WHAT IS A MONOPOLISTIC COMPETITION? PROVIDE EXAMPLE. WHAT IS A PERFECT COMPETITION? PROVIDE EXAMPLE SITUATIONSThere are four market structures: Perfect competition Monopolistic competition Oligopoly Monopoly Discuss the differences among these four market structures.Which of the following markets would have the least amount of concentrated power? Oligopolistic Monopolistic Competitive Underground
- Assume firms in the short run are earning above-normal profits. Explain what will happen to these profits in the long run for the following markets: Pure monopoly Oligopoly Monopolistic competition Perfect competitionWhich industry would be the best example of an oligopoly? Multiple Choice retail clothing beef banking fast food TWhat’s the difference between oligopoly and monopoly
- Analyze a Monopolistic Competition or Oligopoly Market StructureThis is a Microeconomics problem. What is a reaction curve in an oligopolistic market?Local electric or gas utility companies mostly operate in which market structure? Multiple Choice monopolistic competition pure competition pure monopoly oligopoly