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- Cody DeutschMarket Structures Business Organizations8th
- DefinitionsSole proprietorship in Monopolistic competition - someone who owns an unincorporated business by themselves when many companies offer competing products or services that are similar, but not perfect, substitutes. Sole proprietorship in Perfect Competition - someone who owns an unincorporated business by themselves occurs when all companies sell identical products, market share does not influence price, companies are able to enter or exit without barriers, buyers have perfect or full information, and companies cannot determine prices.Corporation in Monopoly - is a business that is characterized by a lack of competition within a market and unavailable substitutes for its product. It can dictate price changes and create barriers for competitors to enter the marketplace. Partnership in Oligopoly - A partnership together have substantial influence over a certain industry or market. While the group holds a great deal of market power, no one company within the group has enough sway to undermine the others or steal market share.
- Thanks for joining up with to build a better business for us since a oligopolies control 70% of the market
- Partnership in Oligopoly
- No problem we share all profits anyway so it benefits me as much as you
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