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Characteristic of Market structures of Ayamas and Ambank
UBEA1013 - Economics
24 Pages • Essays / Projects • Year Uploaded: 2021
Introduction • Present a brief background of the given product and/or company and its nature of business (Types of goods and services produced). • Identify the market structure for the given products and/or companies. (i) With appropriate facts and diagrams, compare and discuss the characteristics of market structures based on: • Number of firms (competitors) in the market structure • Types of product produced by the firm • The ability to control the price by the firm • The availability of entry and/or exit the market • Price and non-price competition (ii) Graphically explain the characteristic of market structure in terms of short run profit(s) & long run profit(s). (iii) Outline the efficiency and/or inefficiency of market structure(s).
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