The DeBeers Company of South Africa was able to block competition through  economies of scale. ownership of an essential input. government-imposed barriers. differentiating its product.

Identify an industry that enjoys perfect (or nearly perfect) competition. How do the competitors interact with each other and suppliers and customers?

Which of the following products/markets is most consistent with the perfect competition model?     Apple iPhones     a bustling farmers' market     Kellogg's Frosted Flakes     electric utilities     automobiles   2 Adam Smith’s “invisible hand” refers to         The mechanism that moves market price and quantity to equilibrium     The natural tendency of markets to avoid monopolies and ensure competition       The market’s incentive to lower price in order to increase quantity sold         The lack of government role in the free market due to the market’s ability to self-regulate         The tendency of firm’s to seek to merge in order to realize synergies and market dominance 3 A company facing inelastic demand for a product sees an increase in its costs after a worker strike forces a wage increase. What is likely to happen to the price and quantity sold of that product?       Price will fall slightly while…

Provide examples of commodities listed in the Philippines that might be described by the following models: Bertand, and Monopolistic Competition and justify your answers and show graph