Briefly state basic characteristics of pure competition

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

(a) a supermarket in your hometown;

(b) steel industry;

(d) commercial bank in which you or your family has an account;

(e) automobile industry. In each case justify your classification.

Reference no: EM1367863

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