Is fashion a monopoly?
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Answer:
What Type of Market Structure is the Clothing Industry? Firms in the clothing industry have differentiated products and market power, making the industry monopolistically competitive.
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Answer: A US Congressional Report found that Apple exerted “monopoly power” in the mobile App Store market by favoring its apps and disadvantaging its rivals. Moreover, Apple's supremacy hurts innovation and choices for consumers through increased prices.
2023-08-24 20:25:01
Can a monopoly earn zero profit?
Answer: Monopolistic competitors can make an economic profit or loss in the short run, but in the long run, entry and exit will drive these firms toward a zero economic profit outcome.
2023-01-21 11:13:59