State basic characteristics of pure competition pure

Reference no: EM13394368

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;

(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: EM13394368

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