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can a small business coffee truck be monopolistic or oligopoly?

can a small business coffee truck be monopolistic or oligopoly?

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Answer #1

In my view, a small business coffee truck will be monopolistic.

Because monopolistic competition is a competition having characteristics of monopoly and oligopoly regarding price setting but the entry barrier is almost free.hence large no of buyer and seller.
Similarly, in Small Business coffee truck anyone can start this business and left when he wants. there is a small amount requirement of initial investment and the product price is fixed as per individual and the position of the stall/ selling point. few barganing power with buyer.

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