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Question 1b
Explain the characteristics
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- Number of firms of monopoly, oligopoly, monopolistic competition and competitive market?Types of products in: 1- competitive market: 2-monopoly : 3-monopolistic competition : 4-oligopoly:Using the example of a monopolistic competition market player , highlight how it competes with other organizations to increase its market share.
- Using the example of a monopolistic competition market player , highlight how CNBM competes with other organizations to increase its market share.QUESTION SEVEN-economics(a) With well-explained examples, differentiate between Monopolyand monopolistic market structures(b) With the help of a neat and clean diagram, discuss the differencebetween change in demand and change in quantitydemanded of the firm product No chatgpt or any AI Answer No hand written solution plzFirm Verizon ATT Sprint T-Mobile All others Market Share (%) 10 8 7 5 1 a. What is the approximate Herfindahl index? Instructions: Round your answer to the nearest whole number. b. Based on this Herfindahl index calculation, how would you describe its market structure? Monopolistic competition Oligopoly C. What is the four-firm concentration ratio? Instructions: Round your answer to to one decimal place.
- know how to compare the characteristic of pure competition Monopoly, Monopolistic competition and oligopoly markets including examplesUsing examples expalin how monopolistically competitive and oligopolistic firms use non price methods to competeWhich market has market power or not and is it good to have market power or not: 1- competitive market: 2-monopoly : 3-monopolistic competition : 4-oligopoly: