Monopolistic competition, Choose on which market structure

Monopolistic competition

Assignment Help Business Economics

Reference no: EM138214

Q1. Mention three businesses that you are familiar with or that you have dealt with recently. Choose on which market structure that these businesses fit - monopolistic competition, perfect competition, and oligopoly also monopoly. What characteristics were most important in making your decision about the market structure of the business

Q2. A firm employs a production function Q = F (K, L) for which only two values of K are possible, K1 and K2. Its ATC curve when K = K1 is given by ATC1 = Q2-4Q+6. The corresponding curve for K = K2 is ATC2 = Q2-8Q+18. What is this firm's LAC curve?

Reference no: EM138214

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