Answer to Question #126568 in Microeconomics for Thobeka ndlovu

Question

Identify any five examples of industries under conditions of monopolistic competition and outline any of their salient features to justify your selection

Answer 1

Restaurants - The type of food or quality of food offered by a given restaurant may enable it make a monopolistic competition.

Hairdressers - The location and customer satisfaction will make one hairdresser monopolistic.

Clothing - The beauty, price and quality of clothes sold are the real game changer.

TV programs - The creativity and interest developed by the consumer is of great help in establishing a monopoly for instance Netflix.

Internet Service Providers - The speed and quality of the internet provided will enable a company become monopolistic.