MONOPOLISTIC COMPETITION
Perfect competition Monopoly Monopolistic Competition Oligopoly
An example of an organization Sunkist Time
Warner Nike Ford
Dealership
Goods or services produced by the organization Oranges, lemons, limes
Grapefruit, tangerines, fruit juice, powered fruit drinks and beverage concentrates Cable, internet and digital phone service Shoes,shirts,pants,swimming gear,basketballs,footballs,golfballs,soccer balls,tennis rackets, and tennis balls, Cars, trucks and SUV’s
Barriers to entry A farmer would have to grow agriculture crops. It’s rare Time Warner will open barriers to entry To have extremely large capital investment is required for new firms to open athletic shoes or any of their goods. It’s rare Ford Dealership will open barriers to entry
Numbers of organizations 50sales organizations in California and Arizona. Countless organizations to help young children and to raise money for their charities 2AOL COSI Countless over 100 4 Ford
Lincoln
Volvo
Mercury
Price elasticity of demand Yes, Sunkist has price elasticity of demand Yes, Time Warner has price elasticity compared to Satellite companies No, Nike is inelastic Yes, Ford Dealership has price elasticity of demand
Economic profits: Is there a presence of economic profits? (Yes or no) yes Yes Yes Yes
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