Homework Help: Economics

Posted by Sammy on Tuesday, December 5, 2006 at 3:48pm.

Among monopoly, oligopoly, Monopolistic competition, and perfect competition, how would you classify the markets for each of the following drinks?
a. tap water
b. bottled water
c. cola
d. beer
I think it would be...
a. Monopoly
b. Oliopoly
c. monopolistic competition
d. monopolistic competition

Your answers sound reasonable. My own knee-jerk reaction would be to put bottled water under perfect competition. But, I could believe someone (you) could make the case for oligopoly.

Thanks for the information.

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