Discuss about the flowing questions regarding perfect completion, monopolistic completion, monopoly and oligopoly. And be brief in your argument.

1. List aconditions that must be met for a monopolist to price discriminate in the market successfully.
2. Discuss about the four waysin which a firm can differentiate its product? What role can be advertising play in product differentiation? How can advertising become a barrier to entry?
3. Do the firms in an oligopoly act independently or interdependently? Explain your argument.