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Imperfect competition-Firms having market power

As MRP < VMP in imperfect competition whenever firms encompass market power as sellers then: (1) MPPL = VMP. (2) The price of output surpasses MFC. (3) Monopolistic exploitation becomes essential to get profit. (4) Imperfect competition can’t reach the equilibrium. (5) Employees are paid less than their VMP.

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