Question: Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly

1. Although market structures vary widely in their characteristics, what is one common aspect among all of them?

2. In the long run, which market structures are likely to have their average cost curve just sit on top of their demand curve? What does this imply for each market structure? Are there any differences in the market structures you gave in your previous answer?

3. What market structure(s) are likely to cause a net loss to societal welfare?

Question 3: Suppose 92% of Californians wear a mask. A random sample of 800 Californians are observed. a} What is the (approximate) probability that at least 1'25 Californians in the sample are wearing a mask? b) What is the (approximate) probability that more than 725 of the Californians in the sample are wearing a mask? lyryx advancing learning Calculator Print Preferences Help Continuous Distributions (Question 6) Name: Harsimran Singh Date: 2020-05-31 Question 6 [10 points] Given a Standard Normal Distribution, compute each of the probabilities below. For full marks your answer should be accurate to at least four decimal places. a) P(Z 0.30) 0 c) P(-0.83