https://padlet.com/eyang03/5yp6gul9utx3fqf0 Made with a stroke of good luck en-us 2021-10-25 18:49:13 UTC 2021-10-27 14:39:46 UTC hello@padlet.com eyang03 https://padlet.com/eyang03/5yp6gul9utx3fqf0/wish/1846005434 This is an example of a monopoly because there are no substitutes for this album and are sold by one seller/company
Disadvantages:
>Sellers choose price
>Restrict choice for consumers
>Increased prices
Advantages:
>Stability of prices
>The ability to scale up
>Budgets for research and development]]> 2021-10-26 18:47:57 UTC https://padlet.com/eyang03/5yp6gul9utx3fqf0/wish/1846005434 eyang03 https://padlet.com/eyang03/5yp6gul9utx3fqf0/wish/1846009766 The agricultural market has many buyers and sellers and they all sell identical products
Disadvantages:
>Efficient scales are so that eventually the market can only support a few sellers
>Sellers are price takers, selling above eqeuillibrium won't work
>Their is no chance to achieve the maximum profit
Advantages:
>There is no information failure
>Only normal profits made, producers just pay for the opportunity cost
> There is many customers and firms]]> 2021-10-26 18:49:53 UTC https://padlet.com/eyang03/5yp6gul9utx3fqf0/wish/1846009766 eyang03 https://padlet.com/eyang03/5yp6gul9utx3fqf0/wish/1846014044 This market has many buyers and sellers and they all sell similar products, these sellers are price and advertisement makers
Disadvantages:
>Sellers are price makers
>Sellers will use advertising to differentiate their products
>Excess waste of resources
Advantages:
>Active business environment
>Higher quality of products
>Good for the economy]]> 2021-10-26 18:51:40 UTC https://padlet.com/eyang03/5yp6gul9utx3fqf0/wish/1846014044 eyang03 https://padlet.com/eyang03/5yp6gul9utx3fqf0/wish/1846019331 This market has very few sellers and any other firm related to this company sell identical or similar products
Disadvantages: 
>Cartel-like behavior can lead to high prices and reduced output
>Higher concentration levels reduce consumer choice
>No fear of competition
Advantages:
>Simplifies the market for consumers
>It creates higher profits
>Control of prices]]> 2021-10-26 18:53:55 UTC https://padlet.com/eyang03/5yp6gul9utx3fqf0/wish/1846019331