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Explain the three types of goods search goods

1. What is the problem with marginal cost pricing in the natural monopoly situation? How do regulatory agencies in the United States usually handle the problem?

2. What is oligopoly? How does oligopoly differ from the other kinds of market structure?

3. Why do firms form a cartel? How do cartels achieve their goals?

4. How does a monopoly maximize profits? What price does it charge?

5. Explain the three types of goods: search goods, experience goods and credence goods. What type of advertising would firms likely use for each type of good and why?

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