Changes

'''2. Order the types of industries from those having the lowest price (due to the greatest competition) to those having the highest price (due to the least competition).'''

'''2. Order the types of industries from those having the lowest price (due to the greatest competition) to those having the highest price (due to the least competition).'''

a.Perfict compation   b.Perfictly contestable markits   c.monopalistic compation   d.  

Perfect compaction   b.Perfctly contestable markets   c.monopalistic compaction   d.oligopoly  e.cartel  f.Monopoly

'''3. Explain which specific type of industry (e.g., oligopoly or something else) each of these quotes probably refers to: (1) "She's the finest hair stylist in town; no one has her special style!", (2) "Crazy Eddie ... his low prices are INSANE!", (3) "Don't like his prices? He's the only one in town selling what you need."'''

'''3. Explain which specific type of industry (e.g., oligopoly or something else) each of these quotes probably refers to: (1) "She's the finest hair stylist in town; no one has her special style!", (2) "Crazy Eddie ... his low prices are INSANE!", (3) "Don't like his prices? He's the only one in town selling what you need."'''

'''4. List how monopolies can be established.'''

'''4. List how monopolies can be established.'''

'''5. What prevents a monopoly from increasing its prices without limitation?'''

'''5. What prevents a monopoly from increasing its prices without limitation?'''