For the following economic situation, identify what the market structure is: perfect competition, monopoly, monopolistic competition,...

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For the following economic situation, identify what the market structure is: perfect competition, monopoly, monopolistic competition, or oligopoly. a) What type of market is your firm in? b) Describe at least two characteristics that identify it in the Market 2) You run a firm dedicated to the underwater subtraction of a stone that, when mixed with oil, results in a product of greater durability, thus benefiting the products derived from it. This stone is only found in various parts of the world and there are about 10 firms dedicated to this activity. To regulate prices at a global level, the 10 firms agree to associate to establish prices in the world market and to be able to determine production when macroeconomic situations so require. For the following economic situation, identify what the market structure is: perfect competition, monopoly, monopolistic competition, or oligopoly. a) What type of market is your firm in? b) Describe at least two characteristics that identify it in the Market 2) You run a firm dedicated to the underwater subtraction of a stone that, when mixed with oil, results in a product of greater durability, thus benefiting the products derived from it. This stone is only found in various parts of the world and there are about 10 firms dedicated to this activity. To regulate prices at a global level, the 10 firms agree to associate to establish prices in the world market and to be able to determine production when macroeconomic situations so require.

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Question a The type of market in which my firm is Oligopoly It is a particular kind of oligopoly k... View the full answer