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(a) Find the elasticity coefficients using the arc method (round off to 2 decimal places); Q1 - Q2 _ P1 - P2 Q1 + Q2

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(a) Find the elasticity coefficients using the arc method (round off to 2 decimal places); Q1 - Q2 _ P1 - P2 Q1 + Q2 P1 + P2 (b) Explain when demand is elastic, demand is inelastic, and demand has unit elasticity. Task2. Market Structures (a) Give three characteristics of each of the market structures (b) Give two examples of each market form. Market Structure # Perfect competition Monopolistic competition Oligopoly Monopoly Features Examples

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