Explain market structures of pure competition

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A. Describe the four market structures of pure competition, pure monopoly, monopolistic competition, and oligopoly.
B. Under the monopolistic competition model where the vast majority of firms operate, what role is played by product differentiation?
C. Why are entrepreneurs the most important people in the successful operation of many firms?
D. Describe the Coase theorem and its approach to solving the externality problem.

Reference no: EM1360785

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