Partnership Monopolistic

Šmykľavka: 1
Hey, I'm feeling a bit hungry, and I don't feel like driving 20 minutes to eat. Oh I know, lets go to Jack and Daniels Taco Palace, It's right down the road.
That's a great idea, LETS GO
Šmykľavka: 2
I
Weclome into Jack and Daniels Taco Palace
TACOS
Im Jack and Daniel is the ceook in the back. We both work together to make sure everyone has a good time and this place runs great. This is a partnership in a monopolistically competitive industry. What that means is that we are both working together for this and we might have the same things as some other places but since we're closer your more likely to just stop by here instead.
Šmykľavka: 3
A corporation could be a monopoly as in it is the only spot that has that item. Like if we were the only taco place in the state. A corporation could be a oligopoly if we dominated everyone else. Like nobody wanted anyone elses tacos only ours.
An advantage of the partnership is that we both work together to make this place work great and we both get profit from it. A disadvantage is having to rely on each other and hoping we can trust one another, and that we have to share profit. Competition from other places will make the supply and demand stay around the middle. If there were no competition the supply would be shorter and the demand would be higher since if people want tacos they have to come here.

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