1. Market structure and characteristics

• Describe the four basic market structures and their characteristics. Explain the relationship between Price, Demand, Average Revenue and Marginal Revenue for each market structure.
• Apply this understanding to your analysis ofsugary drinks industry in Singapore.You should include appropriate research or examples; make relevant assumptions; and use hypothetical numbers to apply to your analysis.
• Use clearly labelled graph(s) to show the explanation.

1. Expected profits

• Explain the profit maximization output for a firm and the types a profit it can experience. What are the expected profits in the short-run and the long-run?
  • Apply this understanding to your analysis ofsugary drinks industry in Singapore. Include both short-run and long-run in your analysis.
• You should include appropriate research or examples; make relevant assumptions; and use hypothetical numbers to apply to your analysis.
• Use clearly labelled graph(s) to show the explanation.