1. Describe the market structure in which orange farmers operate and what happens to profits in the long run.

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1. Describe the market structure in which orange farmers operate and what happens to profits in the long run.

 

  1. Describe the market structure in which orange farmers operate and what happens to profits in the long run.

  2. How do firms in oligopolies maximize profits?

  3. Who pays the sales taxes in the cigarette industry and why?

  4. In a monopolistic competition market structure, describe what happens to profits in the long run and why.