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Unformatted text preview: Please submit your assignment. Instructor Comments: Unit 3 IP1: Assignment Template 1. (25 points) Number of firms Four-Firm Concentration Ratio Describe type of structure 20 30% 20 80% 2. What could be some reasons, relating to market structure why the market for one industry has a low CR and for another another industry has a high CR? (20 points) 3. If price increases due to increased demand, what long-run adjustments in price/output/profit would occur in the first industry (the one with 30% CR), and why? (10 points) 4. If price increases due to increased demand, what long-run adjustments in price/output/profit would occur in the second industry (the one with 80% CR), and why? (10 points) 5. Is it possible for smaller firms to thrive and profit in a high CR industry? Please explain your answer. (15 points) 6. Citation and cover page in APA format ( 5 points)...
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- Spring '10