Market Structure Review Questions Please watch the video(I can’t upload the video, but I took a screenshot of the video) and then answer the the review que

Market Structure Review Questions Please watch the video(I can’t upload the video, but I took a screenshot of the video) and then answer the the review questions in the attached document.If you find some problems or missing of the screenshot which impact answer the question, pls tell me.I already uploaded the screenshot of the video and the questions. In the Oligopoly part, there is “differentiated and undifferentiated goods/services
interdependence
Market Structure Review Questions
Answer the following questions based on the video you just watched
1.
Which market structure(s) will have zero economic profits in the long run?
2. Which market structure(s) will be a price maker and have barriers to entry?
3. There are currently 8 firms in a particular market. There firm sales are given in the table
below. What is the four-firm concentration ratio for this industry? Would you classify it as an
oligopoly?
Firm
1
2
3
4
5
6
7
8
Sales
$1,000
$1,500
$2,000
$2,500
$3,000
$1,000
$500
$2,500
4. Although market structures vary widely in their characteristics, what is one common aspect
among all of them? Does your previous answer have any potential calculation?
5. In the long run, which market structures are likely to have their average cost curve just sit on
top of their demand curve? What does this imply for each market structure? Are there any
differences in the market structures you gave in your previous answer?
6. What market structure(s) are likely to cause a net loss to societal welfare?

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