Question: May I humbly get an answer please? What might be the market structure best fit in this one? Analyze each description, identify the market structure
May I humbly get an answer please? What might be the market structure best fit in this one?
Analyze each description, identify the market structure that best characterizes the business, and explain reasoning. The four market structures are: pure competition, oligopoly, monopolistic competition, monopoly.
2) Bill's Salmon Supplier: Bill's Salmon Supplier sells fresh salmon to local seafood restaurants. Every morning Bill sails out to sea to catch salmon, and each afternoon he returns to sell his catch to local restaurants. There are hundreds of other fishers catching and selling salmon. Because the salmon Bill catches is just like the salmon caught by the other fishers, he 70 can't raise his price.
Type of Market Structure:
Reason:
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