Think of real-world examples for each of these market structures; A monopoly,An oligopoly,Monopolistic competition

January 23, 2025 Discipline: Economics

Think of real-world examples for each of these market structures?

A monopoly (one dominant firm)

An oligopoly (a few large firms dominating)

Monopolistic competition (many firms with differentiated products)

1) How do you think these different market structures affect you as a consumer? Consider factors like prices, product variety, and quality.

2) If you were to start a business, which of these market structures would you prefer to enter, and why?

3) Do you think government intervention is necessary in any of these market structures? If so, in which ones and why?

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