Unknown Story
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- A sole proprietorship can be in a perfectly competitive industry by having a large # of firms that all produce and no single seller can control the supply or process.
- I had no idea that a sole proprietorship could even be in a perfectly competitive industry!
- Well , a partnership could be a oligopoly because it can have more than one owner and partnerships do as well. High profits are generated from oligopoly & used to develop even more products. If a partnership were to be an oligopoly consumers will benefit from the prices of goods that are stable.
- A corporation can be a monopoly by government creating monopolies that are intended to result in economics of a scale that can benefit the consumers by keeping the costs down.
- A Sole proprietorship can be in a monopolistic competitive industry by small businesses including sole proprietorship types of business that will dominate this kind of market.
- Wow! I didn't know that. Thank you for that information!
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