A picture worth a thousand words.

A picture worth a thousand words.
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  • Hey Rafa! Did you know that you are in 'Sole Proprietorship'? Because you own your own restaurant therefore you are responsible of every payment etc...
  • Really, Roger?
  • Then, why sole proprietorship could exist in monopolistically competitive industry?
  • Monopolistic competition is characterized by buyers and sellers, which means there is no big business that controls the market.
  • And why does sole proprietorship fits in perfect competition?
  • Because Sole proprietorship is one of the most common and popular businesses which leads to more people open new businesses by themselves .
  • what about partnership in a monopoly?
  • Form a partnership. Two or more players can form a partnership when they have a monopoly between them. Each player can buy property (houses and hotels) for that property, as long as they follow the rules for building property.
  • One last question, what about partnership in an oligopoly?
  • Partnership can be an oligopoly because oligopoly has more than one owner and so does partnership! can we play now?!
  • Dues!
  • Ah you piece of ...
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