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monopolistic competition
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What is the similarities between perfect competitive monopoly monopolistic competition and oligopoly?
Not many differences. Capitalism favors competition among private companies, but rarely creates monopolies. One source, in the references, says monopolies can be created by governments more than private companies. References: http://www.americansolvent.com/2009/07/03/competition-vs-monopoly-whats-the-big-confusion/
What is the effect of advertisement on monopolistic competition?
There is not much need for adverticement when one company has a monopoly over one product. It is only needed to remind the people this product exists and where they can buy it. There is no competition if you have monopoly. If the product is coveted/needed/multiuseful usually one session of adverticing can result a rush to the store. This happened during war when there was lack of mostly anything. If you adverticed 'we have bread' you would advertice in a few moments 'we do not have bread'.
What is bilateral oligopoly?
Bilateral Oligopoly is a market structure in which a few sellers and a few buyers exist and both demand and supply sides have market power. There is no absolute equilibrium defined for such structure. the example is the intermediate goods market that is a few suppliers compete each other to sell and a few buyers compete to buy. collusion may happen on both sides.
What does monopolistic states mean for workers compensation?
It means there is a monopoly of insurance carriers- One carrier. That is usually a state government agency. If you have employees in that state covered by Worker's Comp, you must buy insurance coverage from that state agency.
What is the best color or street to buy on monopoly?
the best colour to buy is orange on the monopoly board
