ECONOMICS
MARKET FAILURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Nike, Regal Cinemas, Toyota
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Netflix, Hulu, Amazon Prime
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Coca-Cola, Adidas, General Electric
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AT&T, Universal Studios, Kellogg’s
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Detailed explanation-1: -But nowadays there are different alternatives (HBO, Amazon, Disney, Hulu, etc) that provide similar services and related technology in the US economy. Therefore, Netflix cannot be considered a monopoly structure because it is not the only choice for consumers.
Detailed explanation-2: -What Industry Is an Example of Monopolistic Competition? Monopolistic competition is present in restaurants like Burger King and McDonald’s. Both are fast food chains that target a similar market and offer similar products and services.
Detailed explanation-3: -netflix is categorized in a monopolistic competition market.
Detailed explanation-4: -There are a sum of 4 market structures, which is perfect competition, monopolistic competition, oligopoly and monopoly. For Netflix, it falls under oligopoly.