Competitive/free market offer (Polypolic) There are enough producers of the same item that market share is determined by quality, price and customer service. Oligopolistic offer Main characteristic: the market is dominated by a few producers. Monopolistic offer Imposes its own quality, price and quantity standards Give an example of each
Competitive/free market offer (Polypolic) There are enough producers of the same item that market share is determined by quality, price and customer service. Oligopolistic offer Main characteristic: the market is dominated by a few producers. Monopolistic offer Imposes its own quality, price and quantity standards Give an example of each
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter9: Market Structure And Long-run Equilibrium
Section: Chapter Questions
Problem 9.4IP
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Competitive/free market offer (Polypolic)
There are enough producers of the same item that market share is determined by quality, price and customer service.
Oligopolistic offer
Main characteristic: the market is dominated by a few producers.
Monopolistic offer
Imposes its own quality, price and quantity standards
Give an example of each
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