1 page/≈275 words
four distinct industry structures (Essay Sample)
Question 1 As a consumer, what are the advantages and disadvantages of each of these industry structures? -To an economy, what are the advantages and disadvantages of each of these industry structures? Do private and social interests coincide under these industry structures? Give examples to support your reasoning. Question 2 -Can both monopolies continue endlessly? Why or why not for each example? -What factors could cause the monopolies to end? Is there a difference between the public monopoly and a private monopoly? source..
There are four distinct industry structures: a perfect competition, a monopoly, a monopolistic competition and an oligopoly. All the four bare distinct characteristic that bring both advantages and disadvantages to the consumer and the economy.
Sine in a perfect competition there are many industries operating at low profit margins, the consumer is somehow at an advantageous standpoint since the cost of the products being sold are favorable to them and therefore much more affordable. In this operating environment the economy stands to benefit more if the cost of production among other costs is taxed by the governments in place (Kirkpatrick & Nixson, 2012). The downside however is that the consumer has little control of the pricing and that they are exposed to more less the same products with...
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