2nd Economic Project
Storyboard Text
- A Sole proprietorship can be in a monopolistic competitive industry by coming into a market where companies produce similar products but not identical.
- How can a sole proprietorship be in a monopolistic competitive industry?
- A good example of a sole proprietorship existing in a perfectly competitive industry could be a farmers market because there is an abundance of buyers and sellers, meaning the prices are self regulating which creates perfect competition.
- Can a sole proprietorship be a perfectly competitive industry?
- A corporation becomes a monopoly when it is using intellectual property, buying up all the competition so they are the only one in the competition.
- How can a corporation be a monopoly?
- How can a partnership be an oligopoly?
- Partnership can be an oligopoly by starting a business in a limited market, where the market is shared by a small number of producers and sellers.
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