Assignment:
Owning the Market
In the lesson on oligopolies and monopolistic competition (The Whole Spectrum of the Market), Sal from Khan Academy creates a two-dimensional grid of the market types based on the number of competitors and the degree of product differentiation.
• Identify one monopoly from which you buy a good or service.
• Identify one oligopoly from which you buy a good or service.
• Identify one monopolistic competitor that you buy a good or service from.
• Share one effect you think these types of firms have on the quality of goods or services that you purchase. Is the quality affected positively or negatively? Provide a rationale for your answer.