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Perfect and monopolistic competition in long run

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Reference no: EM131038735

Short Essay Questions

1. Explain the difference between perfect and monopolistic competition in the long run.

2. List 3 types of entry barriers.

3. Explain the kinked demand model of oligopoly.

4. Explain how firms obtain equilibrium in the factor market (ie how do they find the optimal level of factors to employ?).

Reference no: EM131038735

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