Both monopolistic competition and oligopoly are market, Ask an Expert

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Both monopolistic competition and oligopoly are market structures

1. that fail to achieve the total surplus achieved by perfect competition.

2. to which the concept of Nash equilibrium is frequently applied by economists.

3. that feature only a few firms in each market.

4. in which firms earn zero economic profit in the long run.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91235404

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