1 discuss under what circumstances a monopolistically, Ask an Expert

Economics

1. Discuss under what circumstances a monopolistically competitive industry could become an oligopoly, could become a monopoly, could become purely competitive.

2. Describe how an employer in a purely competitive labor market determines its profit maximizing wage rate and level of employment.

3. Discuss why and under what conditions a purely competitive industry allocates resources optimally.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92201887

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