00:01
Hello, so today i'm going to answer question of different market structures, specific examples of it.
00:06
So what i did was making a call with the market structures here and with the specific examples here.
00:12
So then i started for example for monopolies, normally local utility providers function as monopolies because they are high and trend costs.
00:22
So normally there are not other companies that let's say offer water supply because they will need to cover all the infrastructure that is really expensive.
00:31
Expensive.
00:33
Monopolycistic competition is when there are goods that are quite unique, but if they are really expensive, they could be replaceable.
00:39
So i think coca -cola is the perfect example, so coca -cola is a unique good and pretty much individuals can recognize the brand.
00:47
And they will be willing to pay a little bit more than for other sodas until one point.
00:52
If coca -cola is really expensive, they can shift, let's say, to pepsi...