3) List and describe the market structures.

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A: Pure/perfect competition, monopolies, oligopolies, and monopolistic competition are the four primary…

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A: In perfect competition ,  A firm will always produce where Price is equal to marginal cost.  This…

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Q: True or False: "In a perfectly competitive market, firms have no market power and must accept the…

A: A perfectly competitive model refers to a market situation at which there are many buyers and…

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A: Coase competition: It refers to a theory that works under economic conditions, and there is conflict…

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A: The Hoteling model in economics demonstrates spatial rivalry, suggesting that businesses will gather…

Q: 11) Let's say three businesses decided to “collude" and form a cartel. This would be illegal in the…

A: If three business collude and form cartel, then they are making monopolist market structure due to…

Q: The following graph illustrates the market for small moving trucks in Bloomington, IN, during…

A: A perfectly competitive firm is a price taker, which means the price in the market is determined by…

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A: Equilibrium is obtained when demand and supply curves intersect each other.At equilibrium, quantity…

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A: DISCLAIMER  “Since you have asked multiple questions, we will solve the first question for you. If…

Q: 4. Consider two markets for the same good: markets 1 and 2. The demand for the good on these markets…

A: Demand shows the relation between P and Q that consumers are willing to buy, assuming all other…

Q: Suppose Eckerd Pharmacy is the only pharmacy in a particular market, but CVS Pharmacy is thinking…

A: We are going to use first mover advantage concept to answer this question.

Q: The firm would maximize profit by charging a) $500, 600 b) $400, 675 c) $750; 500 d) $400, 500 per…

A: The given graph depicts the Monopoly market structure.When a monopolist produces and distributes…

Q: 22: What are some of the Factors Leading to Globalization?

A: Globalization permits the movement of goods and services and people across the world.

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A: Meaning of Market: The term market refers to the situation under which the producers or the…