What determines whether corporations individual proprietorships employee on firms consumer cooperative or some other form of business structure will dominate in the market?

Suppose all firms in a perfectly competitive market structure are in long-runequilibrium. Then demand for the firms’ product increases. Initially, price andeconomic profits rise. Soon afterward, the government decides to tax most (but not all) of the economic profits, arguing that the firms in the industry did not earn the profits. Rather, the profits were simply the result of an increase in demand. What effect, if any, will the tax have on market adjustment?

What is perfectly competitive market structure? Analyse various features of the perfectlycompetitive market with suitable examples.

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…