Consider the markets for head sets, smart phones, cellular telephone service, and cell phone applications. Assume the market for headsets is controlled by many firms selling similar products, smart phone manufacturers use advertising to differentiate their products, only a few firms control a large portion of the cellular telephone service market, and cell phone applications are produced by many firms selling differentiated products. Classify the market for each of the following mobile goods and services as either monopoly, oligopoly, monopolistic competition, or perfect competition. a) Head sets b) Smart phones c) Cellular telephone service d) Cell phone applications
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