Provide Examples Of Industries Which Are Characterized By:1) Perfect Competition, 2) Monopolistic Competition, 3) Oligopoly, 4) Monopoly

[Writer s name][Professor s name][Course title][Date]Examples of IndustriesIn a undefiledly competitive industriousness , at that lieu be many buyers and many suppliers . It is assumed that the customers eat up in all the nurture and product sold by the suppliers is a perfect ease . Hence , if a supplier increases his monetary take to be , customers will slip of paper towards early(a)s Examples of such merchandises implicate the dairy farm farm labor , the lean market , and other alto liveher agricultural products (Mankiw , 2008In a noncompetitive competitor , there argon numerous suppliers that are selling the same product moreover unlike perfect rival , the product is differentiated . in that respect is free accounting entry and deprivation of firms . Furthermore , all the firms have control over their gelt . Hence , none of them is a price taker .

Examples of such industries include fast food outlets , movies and films , and garb (Brue , Sean Campbell , 2008In an oligopoly , there are solo a few firms in the industry that affect the price and profits of each other . Such industries have soaring barriers to entry , and the prices are normally rigid , as there is a non-price competition . A cartel is an example of oligopoly in which companies agree to coordinate their outturn and pricing decisions . Examples of oligopolistic industries include the banking industry , the oil and gas industry , the automobile industry a nd the airline business industry (Mankiw 20! 08In a monopoly , there is only one trafficker in the market . There is absolutely no competition , and the seller dictates the prices . The barriers of entry are high in a monopoly...If you want to get a full essay, order it on our website: BestEssayCheap.com

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