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- Whats the difference in a sole propreitorship in a monopolistic market compared to a perfect competition market?
- Sole propreitors will own the business and produce evrything by themselves in a monopolistic competitive market. They will try to be the only company producing that prodcuct. In a perfect competitive market they will have the same products being sold by many people in the market, but they will add competition to the market.
- Can a sole proprietorship be in a monopolistic competitive Industry?
- Yes! The sole propreitorahip adds to the competition and makes more of a variety in the market.
- Can a sole proprietorship be in a perfectly competitive market?
- Yes! The products being sold are similar and they add competition. On top of that they own the business themselves so all profits go to that person
- Can a coorporation be a monopoly?
- Yes! If one cooporation Is the only selling that type of product and can produce it on their own then they will be monopoly. Although this wont happen as laws have been set in place to prevent it.
- Can a partnership be an oiligopoly?
- Producers in an oligopoly can partner up to set prices for the makret. If one sells low the other will be forced to sell low but if they both set the price at a good amount, there will more sales for more profit because the producers have set a price for the market. They keep the market small as it would be hard to join. For example, some small company cant just join the movie market and compete with pixar and disney right as they start.
- What the difference between a monopoly and oligopoly?
- A monopoly is a market controlled completely by one person or coorporation. An oligopoly is a market that is kept to a small amount of producers who can set the price across the board to what they want it.
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