name business that operates in in a market that is likely to be called monopolistic competition?

Question

why is it considered monopolistic competition. Something that is preferably found in every state trying to compile a lengthy report.

Answer 1

utilities - telephone, electric, gas, water, trash disposal

Answer 2

Viagra was a total monoply before competing drugs emerged because they controlled the total supply of the product.

Microsoft has been sued for monopolizing a number of products -they develop software that will run only on their products and, by withholding essential information, will not permit anyone else to develop similar software.

In subtotal monopolies (for example, diamonds or petroleum at present), a single organization controls enough of the supply that even if it limits the quantity or raises its prices, the other suppliers will be unable to make up the difference and take significant amounts of market share.

Pharmaceuticals were much more of a monopoly before Wal-Mart started charging just $4 for a 30-day supply of many prescriptions and companies began competing for business when the government provided "Part D" for drugs for people who are on Medicare. Many brand name pharmaceuticals are still monopolies because they are patented.

E-bay is a near monopoly for buying and selling items at auction. They bought PayPal, so that method of paying which many people had been accustomed to using, is now a monopoly.

Public utilities are monopolies (you don't usually have a choice of which electric, natural gas, or water company you use) but they are highly regulated.

AT&T was a monopoly until it was broken up into the "Baby Bells" but now the trend seems to be going the other way as some of the "Bells" have merged.

Other historical examples:
Carnegie Steel Company
Standard Oil
National Football League
Major League Baseball
DeBeers Diamonds.
British East India Company

s

Answer 3

Monopolistic competition occurs when a group of firms sell closely related, but not homogeneous products. Example are
cars- GM Ford Toyoda Honda etc
Soft drinks- Pepsi Coke Dr Pepper
Home appliances- GE Kenmore Maytag
Fast food Wendy's Burger king MacDonald's
Most goods and services you see Advertised by brand name

Answer 4

Well, there is a legal monopoly. A patent gives the patent owner a monopoly on the use of the invention. That is the reason to give patents. The 20 year monopoly give a big incentive for people and companies to invent things.

These are considered monopolys because they fit the definition. Only one person or company can make the product so there is no competition.

Answer 5

Microsoft's domination of the OS market is almost monopolistic.

Answer 6

it's similar to perfect competition - i.e. a lot of sellers and not a few big players controlling the market (like oligopoly) however it differs from perfect competition in terms of products are not homogeneous - sellers would try to differentiate their products - whether it is real or perceived - to the buyers it's demand curve is downward sloping. (unlike perfect competition where Price = Aggregate Demand = Marginal Revenue)

Answer 7

net zero and people pc are monopolistic competition

Answer 8

One word, my friend. Microsoft. Microsoft violates anti-trust laws so often, they should have a "Frequent Monopoly" card!

Answer 9

Ebay.