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Starbucks is a popular global chain of coffee outlets with [a huge) 32,650 stores around the world. (A) Identify the type of market structure Starbucks
Starbucks is a popular global chain of coffee outlets with [a huge) 32,650 stores around the world. (A) Identify the type of market structure Starbucks operates in and justify your choice. {2 marks) (B) Compare the market price and quantity for the market structure Starbucks operates in to perfect competition. {2 marks) (C) Say the following diagram represents the market Starbucks operates in. According to this diagram. is Starbucks making a prot or loss? Explain your answer. Calculate the size of this prot or loss. (Approximate numbers read off the chart are ok.) (4 marks) NS! 103 MC 8 ATE 20 MR IWZODSIIIHIJSOU O (D) Can Starbucks make an economic prot in the long run? Explain why or why not. (2 marks)
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