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Business, 17.07.2020 17:01 makenziehook8

In a major metropolitan area, there are many coffee shops, but one chain has gained a large market share because customers feel its coffee tastes better than its competitors'. There are dozens of pasta producers that sell pasta to hundreds of Italian restaurants nationwide. The restaurant owners buy from the cheapest pasta producer they can. While pasta manufacturers must pay licensing fees to their local government and undergo regular food-safety inspections, anyone who has passed inspections can acquire and maintain their license. Only three airlines fly from San Francisco to Medford, Oregon. No new airline will enter this market, because there are not enough customers to share among four or more airlines without each one experiencing substantially higher average costs. Consumers view all airlines as providing basically the same service and will shop around for the lowest price. The government has granted a patent to a drug company for an experimental AIDS drug. That company is the only firm permitted to sell the drug. How many firms? One, Many or Few
Type of product? Unique, Anything, Standardized, or Differentiated
Market Value? Perfect competition, oligopoly, monopolistic competition or monopoly

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