should be able to answer after you read the chapters. As you read the text book think about the
questions posed below. The answers comprise the main topics and concepts that you should
know and understand after you have finished your readings. There are no quiz or test activities
associated with this lecture content.
Unit Learning Outcomes
Unit 4
ULO 1. Describe the key characteristics of the four basic market types used in economic
analysis; and compare and contrast the degree of price competition among the four
market types. ULO 2. Explain the five forces in Porter’s model of competition and explain its effect in pricing
models..
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