Answer
a) Oligopoly
b) Oligopoly
c) Perfect Competition
d) Monopolistic competition
e) Oligopoly
Work Step by Step
a) There are likely few super markets with a large portion of market control and they have to price based on the other supermarkets.
b) There are a small number of steel producers with the majority of market share, but each firm has to pay attention to the business moves the other firm makes.
c) The wheat farming industry is purely competitive due to the number of farms, lack of market power for each farm, and the fact that they produce the same product with no differentiation.
d) The big name banks will have the majority of business but will differentiate themselves though different interest rates, loan fees, processing fees, etc.
e) There are a low amount of automobile companies with vehicles differentiated by design and marketing.
