Why might some people claim that the breakfast cereal industry is monopolistically competitive but that the automobile

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Why might some people claim that the breakfast cereal industry is monopolistically competitive but that the automobile industry is an oligopoly? In both cases, about eight to ten firms dominate the industry.

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Economics

ISBN: 9781032046723

9th Edition

Authors: William Boyes, Michael Melvin

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Question Posted: Apr 23, 2024 08:40 AM

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Why might some people claim that the breakfast cereal industry is monopolistically competitive but that the automobile

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In economics the terms monopolistic competition and oligopoly refer to different market structures each with distinct characteristics that can be appl...View the full answer

Economics

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