1.
Describe the three types of pricing strategies (premium,
penetration, meeting the competition)
2. what is meant by the concept of outsourcing tasks?
Explain the role of brands in a monopolistic competition market.
How can the pricing and profits for a firm in this market structure
differ from perfect competition and when will the two market types
reach the same outcome? Why does that make it essential for firms
to have a strong brand identity? Give an example of a product with
this type of market structure and discuss (briefly) how the firms
have established their brands.
List the conditions required for monopolistic competition.
Which of these makes monopolistic competition seem like perfect
competition and which like monopoly?
List the conditions required for oligopoly.
State the profit-maximizing conditions under oligopoly
Compare the profit-maximizing conditions under monopoly to
those under oligopoly.
Compare the profit-maximizing conditions under monopolistic
competition to those under perfect competition both in the
long-run.
Describe the assumptions and characteristics of the
monopolistic competition market. Monopolistic competition market
differs from full competition and monopoly markets in terms of its
features? (Identify all market types and assumptions mentioned in
the question. Review market conditions, structure, for short and
long term.Use graphics in your answer)
List the features for an industry characterized by monopolistic
competition. Explain which one of those features is the
key reason for the shape of the firms demand
curve.