1 briefly define the business2 how many businesses of this

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1) Briefly define the business.

2) How many businesses of this kind are there in the area? In the country?

3) How easy is it to begin a business that would compete with this one? Are there fences to entry or exit?

4) What kind of product or service does the business produce? Is it identical to others in the industry or is it differentiated to some degree or perhaps unique?

5) How much control does the business have over its price in the marketplace?

6) Should the business engage in marketing and advertising? Why or why not?

7) Should the business develop new products or services? Why or why not?

8) Should the business develop new production (or service) technologies or processes? Why or why not?

9 Based on your responses to questions 2-8 above, what kind of market structure model fits this business best? Why?

Reference no: EM13351302

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