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4. Which type of market structure do you think the following products are in (and why):...

4. Which type of market structure do you think the following products are in (and why): a. Haircuts and salon services. b. New home construction. c. Shampoo. d. Internet services.

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Answer #1

Hair cuts - Probably monopolistic competition because saloons have differentiated haircuts, and they charge slightly different prices. Advertising is a key component of promotion

New home construction: monopolistic competition because homes can be differentiated and they charge different prices. Advertising is once again a key component of promotion

Toothpastes and shampoo are also the market under monopolistic competition for the same reasons

Internet services: Not many sellers and it requires start up cost and heavy investment. Entry is restricted so it is an oligoopoly market

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