Question

Among monopoly, oligopoly, Monopolistic competition, and perfect competition, how would you classify the markets for each of the following drinks?
a. tap water
b. bottled water
c. cola
d. beer
I think it would be...
a. Monopoly
b. Oliopoly
c. monopolistic competition
d. monopolistic competition


Your answers sound reasonable. My own knee-jerk reaction would be to put bottled water under perfect competition. But, I could believe someone (you) could make the case for oligopoly.

Thanks for the information.

Answer 1

This was posted so long ago but yet to be answered. I have a track meet tomorrow and am dreaded to go!!!111