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Profit Maxim is Ing Under Perfect Competition and Monopoly | Monopoly | Perfect Competition

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Profit Maximisation under Perfect Competition and Monopoly Alternative Market Structures ã Classifying markets (by degree of competition) – number of firms – freedom of entry to industry ã free, restricted or blocked? – nature of product ã homogeneous or differentiated? – nature of demand curve ã degree of control the firm has over price Alternative Market Structures ã The four market structures – perfect competition – monopoly – monopolistic competition – oligopoly Features of the four
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