What is perfect competition? What is the short run and the long run situations in it? What
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- What is perfect competition? What is the short run and the long run situations in it?
- What is a monopoly? What are the short run and the long run situations in it?
- What is monopolistic competition? What is the short run and the long run situations in it?
- Why firms and producers are price takers in perfect competition and firms in monopoly price makers.
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