Explain about Market Structures briefly
Explain about Market Structures briefly.
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Market Structures:
• Economists are capable to analyze a smooth continuum of market structures along with monopoly on one end and perfect competition onto the other.
• Advertising and marketing campaigns to distinguish products in oligopolistic markets are planned to promote product homogeneity’s images.
• Monopolistic Competition of Monopolistically competitive firms are not allocatively capable since P>MC, if are productively efficient because economic profits equal zero within the long run.
• The results of pure and monopolistic competition be different primarily since monopolistic competitors sell differentiated products, when outputs of pure competitors are homogeneous.
Use the circular flow model to confirm this assertion for the construction of a new high school in Blackhawk county?
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I am facing difficulty in this question. Help me in find out correct answer of this economy based question. From heterodox perspective, why do business enterprises choose administered prices as opposed to highly flexible prices?
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