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Describe the basics of the business you chose- including the size of the business, types of goods/services the business sells, and possible barriers to entry/exit.
Describe the basics of the business you chose- including the size of the business, types of goods/services the business sells, and possible barriers to entry/exit. Distinguish among four market structures: perfect competition, monopolistic competition, oligopoly, and monopoly in this order. Discuss what kind of market structure your company falls under. Why? Analyze whether the demand of the goods/services sold by the business are elastic or inelastic. Why? Discuss if there are any externalities involved. If so, explain how the externalities can be fixed. Discuss any roles that larger companies can play in promoting inclusion, equality and reducing poverty
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