Assignment:
Q1. What is the effect of search cost on equilibrium prices? In particular, what happens if all consumers have positive search costs?
Q2. Provide two examples of industries in which search costs are likely to be important, and two examples of industries exhibiting switching costs.
Your answer must be, typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.