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Define the term, INDUSTRY, in detail as it pertains to economic organization. Do all firms in an industry have the same amount of financial risk associated with them? Explain.

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Darryn D'Souza
Darryn D'SouzaLv10
28 Sep 2019

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1. What is the current structure of the industry?

How many firms are in the industry? Have they been increasing or decreasing in number? How large are the firms relative to the size of the industry?

2. Would you classify the industry as perfectly competitive, monopolistically competitive, an oligopoly, or a monopoly? Explain your conclusion.

3. What is your assessment of the degree of competition in the industry? Are prices close to or far from marginal costs? What kinds of nonprice competitions occur in this industry?

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