ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The market for jeans (American Eagle, Levis, Lucky, etc.) represents which type of market structure?
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monopolistic competition
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oligopoly
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perfect competition
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monopoly
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Explanation:
Detailed explanation-1: -American eagle-It also belongs to a monopolistically market structure.
Detailed explanation-2: -The market for jeans is an example of monopolistic competition.
Detailed explanation-3: -Monopolistic Competition: American Eagle Outfitters belongs under the market structure of a monopolistic competition. This company produces clothing, accessories, jewelry, and shoes through their three affiliated stores; American Eagle Outfitters, Aerie, and AEO Factory.
Detailed explanation-4: -Monopolistically competitive firms sell goods that are similar enough to be substituted for one another, but are not identical. An example of a monopolistically competitive market is the market for jeans.
There is 1 question to complete.