Question
Watch the CNBC video Costco vs. American chicken monopoly. Answer the following questions: a) explain which market model, (pure competition, monopolistic competition, oligopoly or monopoly)
Watch the CNBC video "Costco vs. American chicken monopoly". Answer the following questions: a) explain which market model, (pure competition, monopolistic competition, oligopoly or monopoly) best represents the chicken industry and explain how the answer to this question has changed over the past few decades b) using microeconomic principles and concepts, fully explain Costco's strategy to produce and sell chickens c) fully explain which market model best represents the labor market in the chicken industry d) fully explain how changes in the chicken industry have affected the American consumer.
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