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Research 3 firms that you interact with on a regular basis. Determine whether these firms operate...

Research 3 firms that you interact with on a regular basis. Determine whether these firms operate in a competitive or imperfect market. If you decide they operate in an imperfect market, see if you can identify which type (monopoly, oligopoly, monopolisticcompetition).

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Answer #1

Some of the products which I use on a regular basis are my Dell laptop, Vodaphone sim and LOreal shampoo.

Starting from my Dell laptop, I see that it has many competitors in the market such as Apple, hp, lenovo. hence it is an imperfect market. It comes under monopolistic competition.

Similary, my vodaphone sim has few competitors such as verizon logo. Hence it is an imperfect competition. It comes under oligopoly.

my shampoo is of loreal which has many competitors in worldwide market such as pentin, sunsilk. Hence it is an imperfect competition. It comes under monopolistic competition.

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