Evaluation

Evaluate the following statements:

” Since costs are higher in the monopolistic competition, society clearly be better off in such industries with the pure competition.”

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Is oligopoly the best market structure for rapid technological development? Why or why not?”

Will the firms in an oligopoly act more like a monopoly or more like competitors? Briefly explain.Describe how a monopolist determines the profit-maximizing combination of price and quantity. 

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