Exploring Monopolies and Oligopolies

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

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With your selected business in mind, determine if it is competitive, monopolistic competitive, an oligopoly, or pure monopoly. Explain how you drew your conclusion about its market structure.
How does the business/firm in this industry determine the price it will charge for the products or services it sells?

 

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