2. Is perfect competition always in the consumers best interest? Discuss. (800 words) 3. Read the article from the BBC News website about Debenhams. Produce a series of annotated demand and supply diagrams to help you to explain why the price of a share in Debenhams has fallen so much in the last six years. (800 words) 4. Read the article from the BBC News website about banks in the UK. Explain the behaviours that can be expected from firms in a market where the largest four firms have a 70 per cent market share. (800 words) 5. Read the article from the BBC News website about supermarkets in the UK. With reference to supermarkets, explain what is meant by economies of scale. (800 words)
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