Monopolistic or Oliogaphy
Would the coffee industry be considered an oligopoly or does it have monopolistic competition?
Monopolistic competition
The beauty supply on lake harbor is?
Small
When many small firms compete too sell similar but not identical products
Monopolistic
True or False:
Non-price competition is not a characteristic of oligopoly.
FALSE
Non-price competition is a key characteristic.
Legal ________
Restriction
Is the competition between Home Depot and Lowe’s considered to be monopolistic competition or an oligopoly?
Oligopoly
Walmart is
Small
A large firm that have all or most of all the sales in a industry
Oligopoly
True or False:
Monopolistic competition is characterized by a single firm producing a unique product.
FALSE
Multiple firms produce differentiated products.
High startup ______
Costs
In India the manufacturing of vehicles is primarily done by a few companies including Maruti Suzuki Ltd., Tata Motors, Hyundai, and Ford. Would this be considered monopolistic competition or an oligopoly?
Oligopoly
Sam Walton is a owner of the ____ franchise.
Large
When only one company provides the supply of a good or service
Monopoly
True or False:
Advertising is an important aspect of monopolistic competition.
TRUE
Advertising helps differentiate products, attracts customers, and create brand loyalty.
_________ of scale enjoyed by established firms
Economies
In the U.S. there are more than 100 companies who produce golf balls that meet USGA standards. Would the golf ball market be considered to have monopolistic competition or would it be an oligopoly?
Monopolistic competition
Kirkland & Ellis is currently the ____ firm in the world
Largest
When firms compete heavily in the industry dealing with monopolistic and oligopoly it’s called…
Competition
True or False:
Firms in oligopoly produce homogeneous products.
FALSE
Products may be differentiated or homogeneous.
_________ regulations that favor existing players in the industry
Government
Are collusions and cartels associated with monopolistic competition or oligopoly?
Oligopoly
In 1984 what firm was the largest fast food company?
McDonald’s
Subway
Wendy’s
Burger King
McDonald’s
And examples of a basketry store that sells bread, cookies, and muffins is what type of competition
And examples of an industry that sell automobiles, airlines, cell phones, and banking is what type of competition
1. Monopolistic
2. Oligopoly
True or False:
Oligopolies can lead to collusion and price-fixing.
TRUE
Firms may cooperate to control prices.
Brand _______ and customer ________
Recognition;Loyalty