How would officially granted monopolies affect the operation of our economic system? Consider the effect on allocation of resources, the level of income and employment, and the distribution of income. Is the effect any different if a firm obtains a monopoly by winning out in a competitive market?
Answer to relevant Questions1. List your activities for the first two hours after you woke up this morning. Briefly indicate how marketing affected your activities. Distinguish between production orientation and marketing orientation, illustrating with local examples. Refer to Exhibit 1-1, and give an example of a purchase you made recently that involved separation of information and separation in time between you and the producer. Briefly explain how these separations were overcome. In ...Distinguish between strategy decisions and operational decisions, illustrating for a local retailer. In your own words, explain why the book suggests that you should think of marketing strategy planning as a narrowing-down process.
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