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.”
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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