Business, 29.03.2020 01:11 silverns

1. What are the market structures a firm competes in?

2. Describe the key characteristics of each market structure.

3. Give at least 1 example of a firm or industry for each market structure.

4. What does it mean to be a "price-taker"?

5. What does it mean to have "market power"?

Answers: 3

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1. What are the market structures a firm competes in?

2. Describe the key characteristic...