Essay - No idea where to start. Watch

Tommyjw
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#1
Report Thread starter 8 years ago
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Have a group essay, 4 questions so were doing one part each. Each part has to be around 500-600 words long. It is about the magazine industry

I've got the last question, and it seems as though I need the answer , or the general idea, of the third question in order to do mine fully. But i am completely lost still

Third question:
What predictions does economic theory make about firms' behaviour in this type of market structure?

My question:
How do firms in this industry behave in practice? Does this fit with the predictions of economic theory?

Now, i have no idea where to start so any help be appreciated :P
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tutor
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My view is that let your colleague to answer the third answer and then move on with yours. otherwise wont be easy to make any suggestion
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turn and fall
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Is the firm a profit maximiser?

Does it collude with other firms (Game Theory suggests not)?

Behavioral economics quirks?
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