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What is an industry that has only one significant supplier?
What is the nature of the product?
How easy

Question

1. What is an industry that has only one significant supplier? What is the nature of the product? How easy

would it be to start a similar firm or stop offering the product/service? How easy is it to attain information about the industry or product or service?

2. Are there any products that are sold in a market in which the seller is able to charge different prices to different consumers? How are the sellers doing this?

3. Suppose there are owners of one of two gas stations in a town of 5,000. The two gas stations are right across the street from each other. How would they react to changes in their competitors prices? What would cause them to increase or decrease prices? How would they get more business? Would their pricing strategy change if they were friends with the owner of the other station?

4. what is industry that is dominated by only 2-3 firms? What is the nature of the product? Would it be easy to begin offering the product or service? Do you feel that the prices of the products they are offering are fair?1. What is an industry that has only one significant supplier? What is the nature of the product? How easy would it be to start a similar firm or stop offering the product/service? How easy is it to attain information about the industry or product or service? ? Do you feel that the prices of the products they are offering are fair?

Microeconomics