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Perfect competition is a model

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Reference no: EM13131927

Please answer all 3 questions using APA 6th Edition format style, site any paraphrasing or quotes that are used in the answer and list source references under each answer as according to the APA 6th edition formatting guidelines.

1. Perfect Competition is a model of which examples are few and far between. Yet economists love to discuss this model. Explain why.

2. Discuss how an imperfectly competitive firm resorts to price discrimination to maximize its profits.

3. One of the criticisms of oligopolies is the adverse impacts these firms have on income distribution. Do you believe that is a valid critcism? Discuss with appropriate examples.

Reference no: EM13131927

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