| reply to thegeek
Re: What's the Problem? Actually, if someone went through basic economics, he would have learned the what market forms are out there and what constitutes them. The number of suppliers, the barriers to entry. and product differentiation all play a role in describing what type of market form the market has.
That you ignore these factors and fail to identify that the market is most like an oligopoly suggests strongly that you do not know what basic economics are.
Another thing learned in basic economics are the difference between perfect and imperfect substitutes. A perfect substitute makes no difference to the consumer while imperfect substitutes might have differences that affect a consumer's utility from consuming that product. Once again, you do not comprehend this, even though investopedia is accessible by anyone. |
