In recent years in the brewing industry, a couple of large firms that have historically had most of the beer sales (Anheuser-Busch and Miller) have faced competition from many small “micro” brands. In terms of the continuum of competition, how would you explain this change?

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A: PLEASE FIND THE ANSWER BELOW.

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Q: Discuss briefly why competition exists in the industry? Give atleast Five reasons.

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Q: compare and contrast the monopoly and perfect competition in market structure in long run?

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A:

Q: Which type of competition is characterized by a large number of firms, heterogeneous products and…

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