• When do firms have opportunity to charge different prices to different consumers? Example from a...

• When do firms have opportunity to charge different prices to different consumers? Example from a real world situation.

There are four key types of market structures in the market economy: perfect competition, monopoly, oligopoly, and monopolistic competition. Each of the market structures has its own key distinguishing features. The marketing strategies of firms also differ from market structure to market structure.

1. Pick a specific industry from one of the market structures and explain how it would function and maximize profit.

2. We are daily exposed to a number of advertisements on TV, in radio and in other places. Which market structures are the most dominant in the advertisement industry? Why?

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Expert Solution

Rahul Sunny answered 1 year ago

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