Describe types of inefficiencies that derive from monopolist
Problem
a) Explain which types of market inefficiencies derive from monopolies.b) Describe the types of inefficiencies that derive from monopolistic competition.c) How are monopolies and monopolistic competitive firms profitable?
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What type of market structure do you think Car Today belongs to? Draw a graph for Car Today that shows the firm carrying out perfect price discrimination.
Identify and explain two factors that have caused a shift in the supply curve. Illustrate the impact on the market using supply and demand curves.
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Explain which types of market inefficiencies derive from monopolies. Describe the types of inefficiencies that derive from monopolistic competition.
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