Compare and contrast the characteristics of two markets

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Compare and contrast the characteristics of two markets - a monopoly market compared with a perfectly competitive market.

Explain whether perfectly competitive firms and monopolies achieve productive and allocative efficiency. Explain why or why not.

Describe the conditions necessary for a firm to implement price discrimination, and give a personal example of when you have experienced price discrimination.

Identify two examples of businesses or types of products which are representative of these two markets: a monopoly market and a perfectly competitive market.

Reference no: EM132240118

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