Does The Car Industry Falls Into Monopolistic Competition?
I don’t know if you explained yourself properly either, but monopolies are usually characterized by a lack of economic competition. An industry or enterprise that has enough control to be able to dictate the conditions or terms under which others may have access to it would be a monopoly. That doesn’t seem to be the case in the US. The auto industry is having so much trouble because of the competition from foreign auto manufacturers. Foreign manufacturers are producing better, more economical cars at more reasonable prices than the American companies.
