b. Discuss how important investment in research and development would be in each type of market structure (monopoly and perfectly competitive).

c. In 2017 the US city of Philadelphia introduced a 1.5-cents-per-ounce tax on sweetened drinks such as soda and energy drinks. Discuss the likely effectiveness of this tax.

d. Discuss what, if any, implications the tax on sweetened drinks will have on inequality within the city of Philadelphia.