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long essay with own sentences (not from search engine) 1. Enumerate and discuss the characteristics of Perfect Competition. 2.What is product differentiation? Explain your answer

long essay with own sentences (not from search engine)

1. Enumerate and discuss the characteristics of Perfect Competition.

2.What is product differentiation? Explain your answer by giving an example of a particular product or brand.

3. What is price discrimination in monopoly? Give an example.

4. Discuss the concept of collusion in oligopoly. Give an example in the Philippines.

5. Explain some misconceptions on monopoly.

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