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Homework answers / question archive / Considering these economic markets (monopoly, oligopoly, monopolistic competition, and pure competition), which markets are best for consumers? Which market structures are best for producers?
Considering these economic markets (monopoly, oligopoly, monopolistic competition, and pure competition), which markets are best for consumers? Which market structures are best for producers?
The markets that are best for consumers are monopolistic competition and perfect competition. This is due to the high competition in such markets which bring down the prices.
The markets that are best for producers are monopoly and oligopoly. This is because such markets have little or no competition which means that prices and profits can be high.
