Description
Need an example of a brand, how it is and why it is one from each: perfect competition, monopolistic competition, oligopoly, & monopoly. Please make them short and concise.
Explanation & Answer
monopoly is an enterprise that is the only seller of a good or service. In the absence of government intervention, a monopoly is free to set any price it chooses and will usually set the price that yields the largest possible profit. Just being a monopoly need not make an enterprise more profitable than other enterprises that face competetion
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