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Under which market structure is it particularly important that firms pay close attention to the actions of their competitors? monopoly oligopoly monopolistic competition perfect competition
Under which market structure is it particularly important that firms pay close attention to the actions of their competitors? monopoly oligopoly monopolistic competition perfect competition It is not important in any market structure.The concept of price elasticity of demand measures: the slope of the demand curve. the number of buyers in a market. the extent to which the demand curve shifts as the result of a price decline. the sensitivity of consumers to price changes
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