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- How could a sole proprietorship bein a perfectly competetive industry?
- Market structure refers to how industries are classified based on their degree and nature on competition for goods and services
- A sole proprietorship is just a person who owns a business and is repsonsible for the debt. The owner would simply compete on prices for the same product differing in quality.
- Market structure refers to how industries are classified based on their degree and nature on competition for goods and services
- A monopoly refers to a lack of competition in a market or industry. Without competition, a business can become the sole proprietor of all goods and services.
- How could a sole propietorship be in a monopolistic competetive industry?
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