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ASSIGNMENT REQUIREMENTS: Various economic and business scenarios are assumed in some of the questions below. You are to apply your understanding of market structure and

ASSIGNMENT REQUIREMENTS: Various economic and business scenarios are assumed in some of the questions below. You are to apply your understanding of market structure and economic concepts to respond to the questions. Question 1 Compare the market structures of Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly under the following headings (About 150 words). i. number of firms in the market ii. similarity of the products sold barriers to entry (9 marks)

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