(Answered) Answer the questions in your own words and upload your

Engineering

Answer the questions in your own words and upload your answers in an MS Word Document.

1. Are McDonald's and Starbucks Monopolies? Why or why not?

2. Explain why MR

3. Why are monopoly firms able to earn long-run economic profits while perfectly competitive firms cannot?

4. Under what market conditions would afirm find it easier to engage in price discrimination?

5. Video Question: What was the most important concept presented in this video? Using your own words explain why you feel this way.

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