what role does the market play in the location of the Detroit iron and steel plants ?
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Answered by
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Answer:
market plays very important role in iron and steel plant because there goods are heavy so it needs near market
Answered by
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The Detroit iron and steel market falls under oligopoly market.
Explanation:
- Oligopoly market as well as monopoly market both of them are slightly different , in case of monopoly few buyers and few sellers are present.
- Oligopoly market are those market those are having limited number of producer and large number of consumer.
- In case of oligopoly market only few producers get the patent to produce those goods.
- In case of oligopoly market the competition is also very less and the goods are in high demand.
- In case of oligopoly market there is a barrier in case of entry as well as the market can sell same product or different product.
To know more:
Main featurtes of oligopoly market?
https://brainly.in/question/3240905
Describe monopoly market?
https://brainly.in/question/4186577
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