This article discusses monopoly market structure and market failure in the energy market of Australia. It also explains how producers set prices and the impact of increasing coffee bean prices on coffee producers. The article is relevant for Economics Assignment MBA.

Individual Assessment Task Instructions

Complete short investigative exercises on Australia's energy market structure, price and output behavior of large energy firms, market failure, and evaluation of a current government policy.

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This report discusses the monopoly and monopolistic competition in the Australian market. It explains the characteristics of both markets and provides examples of monopolistic competition in the restaurant and coffee industries. The report also discusses the Sydney International Airport and the Australian Postal Service as examples of monopoly markets. It highlights the importance of government intervention in monopoly markets to protect consumer interests and control the monopolist's power. The report concludes that monopolistically competitive markets do not require government intervention as competition among firms can be observed.

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Presentation

This essay analyses the monopoly and monopolistic competitive markets in Australia, with a focus on policy interventions by the government. It discusses the characteristics of these markets and their impact on different industries, such as the postal service, coffee industry, and restaurant sector.

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