Watch this video, Oligopolies and Monopolistic Competition, to help you prepare for this week’s discussion.
Use the company for which you currently work, a business with which your familiar, or a dream business you want to start to reply to these prompts:
- 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?