(Answered) Distinguish short-run and long run

Economics

Distinguish short-run and long run.

Give a real life eample of yours that you experienced the law of diminshing Marginal productivity.

List the characteristics of perfect competition.

What is the profit maximization condition for perfect competition?

What is the long run economic profit for a perfectly cometitive firm?

What are characteristics of Monopoly?

Can you give some real world examples of Monopoly?

What are the characteristics of Monopolistic Competition and Oligoploy?

How much is the long run profit under monopolistic competition?

What is the difference between long run profit for perfect Competion and monopolistic Competition?

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Macroeconomics, Economics

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