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Many bubble tea outlets have been set up in the Klang Valley. Besides the well- known outlets such as Chatime and The Alley, new outlets

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Many bubble tea outlets have been set up in the Klang Valley. Besides the well- known outlets such as Chatime and The Alley, new outlets are still being set up. Each one claims that they are offering a product that is different. Identify the type of market structure that the bubble tea outlets are operating in. Using appropriate diagram, briefly explain the demand curve faced by the bubble tea seller and how they can maximize the profit. (12 marks)

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