ECON1001 Graded Worksheet 2.docx - ECON1001 INTODUCTION TO...

This preview shows page 1 - 4 out of 15 pages.

ECON1001 INTODUCTION TOMICROECONOMICSGRADED WORKSHEET2
QUESTION 1a.Give three characteristics of a perfectly competitive market.
b.List and explain three types of barriers to entry that may be used in a monopoly.
c.For a monopolist, why is marginal revenue less than price for every level of outputexcept the first?
d.Give the conditions which should exist for price discrimination?

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 15 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Fall
Professor
N/A
Tags
Economics, Microeconomics, Boundless Economics

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture