1. What are the market structures a firm competes in?
2. Describe the key characteristic...
![Business](/tpl/images/cats/ekonomika.png)
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"?
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Answers: 2
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