1. Provide the characteristics of a "monopolist competitor". what must they do to be certain of their survival?

2. Technological advance is a 3 step process of intervention, innovation, and diffusion. Explain each Step. Why are research and development so vital to the success of any firms?

3. Oligopolist has an interdepent relationship with their competition. Explain what it means. What is collusion and why are the oligopolist most vulnerable to this?

4 A pure monopoly has no competition yet it is not guaranteed a profit, explain why this. what is a natural monopoly/ why do they exist? how are they controlled? provide an example