a) Distinguish the following types of market structures.
- Monopoly (4 marks)
- Monopolistic competition (4 marks)
b) Show the equilibrium position of a firm and industry under perfect competition in short-run and long-run (12 marks)
(20 marks, 2014 Q4)
Wednesday, February 4, 2015
Market Structure, Perfect Competition and Market Share Q4
Q.
a) Distinguish the following types of market structures.
b) Show the equilibrium position of a firm and industry under perfect competition in short-run and long-run (12 marks)
(20 marks, 2014 Q4)
a) Distinguish the following types of market structures.
b) Show the equilibrium position of a firm and industry under perfect competition in short-run and long-run (12 marks)
(20 marks, 2014 Q4)
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