Friday, December 3, 2010

5 Items To Purchase

-The five items i would want to or already have purchased are a new phone, clothes, fast-food, a television, and new cleats.

: The market structure that a Cell phone would exist in is an oligopoly.  There are only a few number of sellers.
: The market structure that clothes would exist in is a monopolistic competition which means that there are lots of buyers and sellers, but competition may be limited by specifci market conditions.
: The market structure that fast-food would exist in is a monopolistic competition.  This means that there are many independent buyers and sellers although, competition may be limited by specific market conditions
: The market structure that a television would exist in is a monopolistic competition.
: The market structure that new cleats would exist in is an oligopoly which means there are such few sellers that the slightest change would effect basically the entire industry.

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