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PART C:A market is a forum in which people come together to exchangeownership of...PART...

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Accounting

PART C:
A market is a forum in which people come together to exchangeownership of goods; a place where goods or services are bought andsold.
REQUIRED:
2.5 Describe the three (3) models of market competition. (6)
2.6 List three (3) characteristics of a monopolistic market.(3)
2.7 State five (5) unethical practices in oligopolistic markets.(5)

Answer & Explanation Solved by verified expert
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25There are 4 basic market models of competition pure competition monopolistic competition oligopoly and pure monopoly In a purely competitive market there are large numbers of firms producing a standardized product Market prices are determined by consumer demand no supplier has any influence over the market price and thus the suppliers are often    See Answer
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In: AccountingPART C:A market is a forum in which people come together to exchangeownership of...PART C:A market is a forum in which people come together to exchangeownership of goods; a place where goods or services are bought andsold.REQUIRED:2.5 Describe the three (3) models of market competition. (6)2.6 List three (3) characteristics of a monopolistic market.(3)2.7 State five (5) unethical practices in oligopolistic markets.(5)

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