In a large city there are many laundrettes which provide identical services.

(a) State the type of market structure under which the city's laundrettes operate.

Explain with the aid of a diagram for each of (b) and (c) below, the possible changes in a laundrette's economic profit, price and output given the following independent events.

(b) Due to a pandemic, the retail supply of household washing machines is significantly reduced resulting in an increased need for the city's population to use laun- drettes.

(c) Assuming all else remains equal, the price of laundry detergent (ie. washing soap for clothes) increases.