1. what are the four " market structutes"? Please describe each market structure and please give an original example of a firm that belongs and functional in each one of the structures.
2. What, exactly, is a " barrier to entry"? How and why is I that an " oligopolistic firm may enjoy higher barriers to entry than a firm that is " perfectly competitive"?
3. In your opinion, which three barriers to entry may be the most powerful? Why " which three barriers may be the least powerful? Why?
4. Please give three examples of how " consumer loyalty" may be used as a barrier to entry.
5. Please give three examples of legal barriers to entry. Which one of the three may be the most powerful? Why?
6. What is " price discrimmination," exactly? What must a firm DO in order to price discriminate? Please give two examples of price discrimination that we have not discussed in the Lectures or in the textbook, preferably examples you have encountered in your own life. In both cases, how does the seller" get away" with it?
7. What, exactly, is a natural monopoly? What are natural monopolies often regulated by some sort of government regulatory agency? Should PG&E be taken over by the state of California? Why or Why not?