Question: 17. Explain the difference between competitors and substitutes and provide an example. (5 marks) 18. Pick any one of these companies (list provided in the

17. Explain the difference between competitors and substitutes and provide an example. (5 marks) 18. Pick any one of these companies (list provided in the exam) and comment on what type of market it is operating in (and your rationale). Discuss the implications of this market for the business. 6 marks

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