Use the three conditions for monopolistic competition to decide which of the following firms are likely to be operating as monopolistic compeitors. If they are not monopolistically competitive firms, are they monopolists, oligopolists or perfectly competitive firms?
a. A local band that plays for weddings, parties and so on
b. Minute Maid, a producer of individual-serving juice boxes
c. your local dry cleaner
d. A farmer who produces soybeans
a. A local band that plays for weddings, parties and so on
b. Minute Maid, a producer of individual-serving juice boxes
c. your local dry cleaner
d. A farmer who produces soybeans