Assignment - Market Structure and Government Intervention

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Reference no: EM132604759 , Length: word count:1000

Assignment - Market Structure and Government Intervention

1. Explain with relevant example the two key aspects to consider in degree of competition in a market structure.

2. Compare and explain the difference between a competitive firm and the model, of monopoly. Support it with relevant graphs to show the relationship between MR and MC curves in a competitive versus monopoly structure.

3. Construct a graph of a firm in a monopolistic competition in the short run. Explain the optimal level of output for the firm and the price it must charge to realise profits.

4. Draw a graph to compare and explain the 'output and efficiency levels' in a perfect competition, monopoly/oligopoly and monopolistic competition.

5. Consider two specific examples to justify why government intervention is required to create competition.

6. How do natural monopolies differ from regular monopoly?

Reference no: EM132604759

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