"Market Structure Oligopolies"

A local area where one water business is the only provider is an example of a(n) ____.

monopoly - (¿A.R?)

In perfect competition, there are ____ businesses that produce the same product.

many - (¿A.R?)

____ make it difficult for a new company to enter the market.

Barriers to entry - (¿A.R?)

In a(n) ____ leadership model, one business acts as the leader in the market that other businesses follow when making decisions about how to price their products.

price - (¿A.R?)

There are ____ models of oligopoly behavior.

two - (¿A.R?)

Oligopolists make decisions about ____ levels and price.

output - (¿A.R?)

____ encourage invention and innovation by giving inventors the right to produce and earn money from their inventions.

Patents - (¿A.R?)

Governments can require businesses or individuals to have a ____ from the government to operate a business.

license - (¿A.R?)

Governments can require businesses or individuals to have a ____ from the government to operate a business.

license - (¿A.R?)