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[See Solution] (a) Provide an example of where inter-industry competition is an important source of competition for a firm. (b) Provide an example of where

Question: (a) Provide an example of where inter-industry competition is an important source of competition for a firm.

(b) Provide an example of where foreign competition is an important source of competition for a firm.

(c) Provide an example of where contestable markets competition is an important source of competition for a firm.

(d) Explain why an increase in competition usually helps improve market conditions in the U.S. economy.

(e) Does the U.S. government have a responsibility to maintain competitive markets? Explain.

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