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In the town of Bursville, there are more than 20 bakeries and each bakery has its own niche as no bakery dominate Burnsville

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In the town of Bursville, there are more than 20 bakeries and each bakery has its own niche as no bakery dominate Burnsville. Baking Betty's is one of the many bakeries selling fresh baked cookies, sweets, ice cream and desserts in this town. Baking Betty's is famous for its gourmet cookies of many flavors like chocolate, strawberry, caramel apple, pumpkin and many more. Baking Betty also provide catering services for events and occasions. a. What type of market structure is depicted above? Based on the description, give TWO (2) reasons to justify your answer. (5 marks) b. Each cookie is priced at $3.50 and the profit maximizing output in a day is 300. The fixed cost is $150 and average variable cost is $1.60. Work out the total revenue, total cost and profit/loss. (6 marks) c. Based on b) sketch the graph for profit maximization for this market structure labeling all the relevant values. (6 marks) d. Suggest TWO (2) ways other bakeries in Burnsville can differentiate their products using day-to-day examples. (4 marks) e. Due to the months of lockdown, many bakeries have closed and there are only 6 bakeries left in Burnsville. What market structure is this? Between the market structures a) and e), which in your opinion is more beneficial to society? Explain. (4 marks)