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6 May, 05:16

List the different types of market structures that big data benefits the least and benefits the most.

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  1. 6 May, 05:29
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    The market structures that most benefit from Big Data are the competition Monopolistic, which is a type of imperfect competition such that many producers sell products in a market but the products are not identical (heterogeneous products), and they differ from each other by the brand, the quality or the location. In monopolistic competition, a firm takes the prices of its rivals as data and ignores the impact of its own prices on the prices of other companies; and Oligopoly, a market structure in which there are few relevant competitors. Each of them has a certain capacity to influence the market variables (such as price and equilibrium quantity), on the other hand, the one that benefit the least from Big Data is the monopoly, as it is a market structure where there is a single offer a certain good or service, that is, a single company dominates the entire supply market.
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