In each blank below, write the one of the four market
environments that is most accurately being described by each
situation: perfect competition, monopolistic competition,
oligopoly, or monopoly.
a) Carcinocillin is a brand new powerful anti-stroke drug with a
patent. It is a unique product with no close
substitutes.
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b) Ron’s Farmers Market is in the agricultural industry with no
barriers to entry, competing with more than 5,000 other farmers’
markets, each one producing the exact...