Question: Hello, I need some help on this problem. All problems are assignable in MyEconLab. Answers to odd-numbered problems appear in MyEconLab 23-1. Explain why each

Hello, I need some help on this problem.
 Hello, I need some help on this problem. All problems are

All problems are assignable in MyEconLab. Answers to odd-numbered problems appear in MyEconLab 23-1. Explain why each of the following examples is not a perfectly competitive industry. (See page 529.) a. One firm produces a large portion of the indus- try's total output, but there are many firms in the industry, and their products are indistinguish- able. Firms can easily exit and enter the industry. b. There are many buyers and sellers in the indus- try. Consumers have equal information about the prices of firms' products, which differ mod- erately in quality from firm to firm. c. Many taxicabs compete in a city. The city's gov- ernment requires all taxicabs to provide identi- cal service. Taxicabs are nearly identical, and all drivers must wear a designated uniform. The government also enforces a binding limit on the number of taxicab companies that can operate within the city's boundaries. Consider a market for online movie rentals. The market supply curve slopes upward, the market demand curve slopes downward, and the equilib- rium rental price equals $3.50. Consider each of the following events, and discuss the effects they will have on the market clearing price and on the demand curve faced by the individual online rental firm. (See pages 530-531.) a. People's tastes change in favor of going to see more movies at cinemas with their friends and family members. b. More online movie-rental firms enter the market. c. There is a significant increase in the price to consumers of purchasing movies online. 23-3. Consider the diagram in the next column, which applies to a perfectly competitive firm, which at present faces a market clearing price of $20 per unit and produces 10,000 units of output per week. (See pages 530-534.) a. What is the firm's current average revenue per unit

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