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Complete the following table: Perfect Competition Monopoly Monopolistic Competition Oligopoly No. of Firms Many One firm A few (two) Product Identical Identical Differentiated Market

 

Complete the following table: Perfect Competition Monopoly Monopolistic Competition Oligopoly No. of Firms Many One firm A few (two) Product Identical Identical Differentiated Market Structure P = MR P> MR Equilibrium Long-run Profit MC=MR No RCA = RCB Yes Provide examples of monopolistic competitive market and oligopolistic market, and discuss the implications of these market structures for both producers and consumers.

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