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Perfectly Competitive Oligopoly Monopolistic Competition Monopoly Contestable
A market where one firm
dominates and sells a product with
A market where a few large firms A common market where firms no close substitute. By government
A market where there is many dominate and account for have many competitors who sell…

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Maximum choice Cartellike behaviour reduces Not technically efficient Less consumer surplus Increased consumer welfare
No monopoly power competition Xinefficiency Unrealistic
Don't always act rationally Certainty of prices Less choice Firms may bundle products
Producer surplus
Cost savings due to EOS


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