A town in India has three Milk producing companies. The owners of these milk companies make decisions together about when to raise and lower milk prices. It would be difficult for another milk company to enter this market. Which market structure best describes this market? a. Monopoly b. Oligopoly c. Perfect competition d. Monopolistic competition
A town in India has three Milk producing companies. The owners of these milk companies make decisions together about when to raise and lower milk prices. It would be difficult for another milk company to enter this market. Which market structure best describes this market? a. Monopoly b. Oligopoly c. Perfect competition d. Monopolistic competition
Chapter9: Monopolistic Competition And Oligoply
Section: Chapter Questions
Problem 9SQ
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28. A town in India has three Milk producing companies. The owners of these milk companies make decisions together about when to raise and lower milk prices. It would be difficult for another milk company to enter this market. Which market structure best describes this market?
a.
Monopoly
b.
Oligopoly
c.
Perfect competition
d.
Monopolistic competition
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