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Question 5 a) Compare and contrast FOUR (4) characteristics of perfect competition and monopoly market structures. (8 marks) b) Identify and explain THREE (3) possible

Question 5 a) Compare and contrast FOUR (4) characteristics of perfect competition and monopoly market structures. (8 marks) b) Identify and explain THREE (3) possible barriers to market entry. (6 marks) c) Explain the following characteristics of an oligopoly market structure: i) Inter-dependency (2 marks) ii) Collusion (2 marks) iii) Price leadership (2 marks)

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