Pure monopoly-monopolistic competition and oligopoly

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Reference no: EM131090585

Briefly state the basic characteristics of pure competition, pure monopoly, monopolistic competition, and oligopoly. Under which of these market classifications does each of the following most accurately fit?

a. a supermarket in your hometown

b. the steel industry

c. a Kansas wheat farm

d. the commercial bank in which you or your family has an account

e. the automobile industry.

In each case, justify your classification.

Reference no: EM131090585

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