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Economists have developed four different market models (perfect competition, monopolistic competition, oligopoly and monopoly) to analyze firm decision making. a. Assuming profit maximizing firm

Economists have developed four different market models (perfect competition, monopolistic competition, oligopoly and monopoly) to analyze firm decision making.

a. Assuming profit maximizing firm behavior, explain which of these four kinds of markets would result in maximum total surplus.
b. Assuming profit maximizing firm behavior, explain which of these four types of markets would tend to lead to promote the most rapid rate of technological progress.

 

Aug 18 2021 View more View Less

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