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Running head: OLIGOPOLY AND MONOPOLISTIC COMPETITIVE FIRMS 1 Oligopoly and Monopolistic Competitive Firms Student Name Institution Affiliation
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OLIGOPOLY AND MONOPOLISTIC COMPETITIVE FIRMS 2 1. Identify a firm which operates in monopolistic competitive environment and a firm which operates in an oligopoly environment. Explain how you concluded the firm was monopolistic competitive or an oligopoly. Java restaurant is an excellent example of the firm operating in a monopolistic competitive environment. There is no barrier to entry in the restaurant industry, and therefore dinners are free to check different menus before deciding where to dine. Therefore Java competes with other restaurants regarding the price and quality of the service. On the other hand, windows in an example of company operating under oligopoly environment. There are other companies in the computer industry, but almost everyone who uses the computer has windows.
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  • Spring '17
  • Economics, Porter’s Five Forces of Competitive

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