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.
How a production possibilities curve is a graphical representation of choices?
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Write short note Economics?
Distinguish between a change in supply and a change in the quantity supplied?
Writ short note on the income of functional distribution?
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