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Classify each of the following businesses by their characteristics. For parts o. through d., write Pure Competition, Pure Monopoly, Monopolistic Competition or Oligopoly. Answer the
Classify each of the following businesses by their characteristics. For parts o. through d., write Pure Competition, Pure Monopoly, Monopolistic Competition or Oligopoly. Answer the questions in parts e. through h. Give a brief explanation for your answer for each part, Jordyn and Kelly own the only two gas stations in a 40 mlle radius. When Jordyn lowers her price, Kelly quickly follows because his sales start to fall off very quickly. Jordyn experiences the same result when Kelly decides to lower his price
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