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Analyze a monopoly, oligopoly, monopolistic competitive firm, and perfectly competitive firm that you have recently purchased/consumed...

Analyze a monopoly, oligopoly, monopolistic competitive firm, and perfectly competitive firm that you have recently purchased/consumed a good or service. Please make sure to relate your answers to the market characteristics of each of the market structure. Explain what market structure you would like to sell and buy products in.

Please write a 3-4 paragraph essay with in-text apa citations.

Business   Economics   
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Answer #1

So here we have the monopoly,oligopoly,monopolistic competitive firm and perfectly competitve form of market.The highest competition which will be faced by a seller is in the perfectly competitive market structure and in this form of market there is a high chance of negotiation.

Regading these conditions the consumer should consume in a market in which there are large chances of negotiations and so he must consume in perfectly competitive market.Hence according the above question perfectly competitive market would be suitable as in this form of market consumer has a large number of choices and the negotiation power is also high.

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