Fill in the blanks in the table with the given options. Scenario Number of Firms Type of Product Entry Market Model
a. One
b. Many
c. Few
a. Anything
b. Differentiated
c. Standardized
d. Unique
a. Impossible
b. Easy
c. Challenging
a. Oligopoly
b. Monopoly
c. Monopolistic Competition
d. Perfect Competition
There are hundreds of colleges that serve millions of students each year. The colleges vary by location, size, and educational quality, which allows students with diverse preferences to find schools that match their needs.
There are dozens of pasta producers that sell pasta to hundreds of Italian restaurants nationwide. The restaurant owners buy from the cheapest pasta producer they can. While pasta manufacturers must pay licensing fees to their local government to undergo regular food-safety inspections, anyone who passes inspections can acquire and maintain their license.
In a large city, two taxi companies own all the licenses that the city has granted to operate taxis (and the city is reluctant to grant more). Consumers don't care which taxi company they take - if they decide it's worth taking a taxi, they flag down the nearest one.
Scholastik Inc., owns the U. S. copyright to a popular series of books. It is the only company with the legal right to publish these books in the United States.