Power Rents: Monopolistic Competition Market Structure

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One of the last organizations I worked before I entered government work was Power Rents. Power Rents rented small equipment to heavy construction. The rental equipment service falls into the monopolistic competition market structure. The rental business is a large industry; however, most are regional or local owned. Products and services are similar except for named brands. This enables rental companies to partial control the market price to a certain degree because of customer preference for brand choice at these firms. However, the industry does fit what is described in the text book as prices takers (Sexton, 2017, p.131), most all rental firms price on equipment is the same, it is just a choice of what brand of equipment the customer would

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