Monopoly-oligopoly and monopolistic competition

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It is known the pricing policies, profit maximization decisions, and short run and long run behavior of perfectly competitive firms, monopoly, oligopoly and monopolistic competition.

a) Discuss what is unique or important about each of the markets listed above.

b) Discuss the importance of advertising in increasing the sales for each of the markets listed above.

c) Why do we make the distinction between long and short run equilibrium for profit maximizing decisions?

Reference no: EM131388335

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