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5. In South Africa many markets are concentrated. a. Describe the factors determining market structure. b. How would you define a highly concentrated market? c.

5. In South Africa many markets are concentrated. a. Describe the factors determining market structure. b. How would you define a highly concentrated market? c. What criteria are used to measure market concentration? d. Give some examples of highly concentrated markets in South Africa. e. Discuss the likely profitability in the long-run of highly concentrated industries. (10)

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