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...
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?!