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List the following characteristics of a market under ologopoly: The number and size of firms The availability of substitutes If there are barriers to entry or not Give an example of a company or firm

Firms in perfect competition are price ____:

List the following characteristics of a market under perfect competition: The number and size of firms The availability of substitutes If there are barriers to entry or not Give an example of a company or firm

If the firms in a perfectly competitive market are making economics losses:

Which market structure often results in the highest level of deadweight loss?

In monopolistic competition firms engage in product differentiation to:

List the following characteristics of a market under monopolistic competition: The number and size of firms The availability of substitutes If there are barriers to entry or not Give an example of a company or firm

Which market structure is most likely to result in the highest level of economic profit for a firm in the long run?

Which market structure is characterized by the absence of any market power?