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Draw the profit maximization diagram of a monopoly and perfect . . . Draw the graph for monopolistic competition in the long run (0 economic profits) and then label all relevant points Compare the four market models (perfect competition, monopoly, oligopoly, and monopolistic competition) on the probability of each to earn economic profits in the long-run and their social desirability
Monopoly Definition, Types Examples - Study. com Monopolistic Competition Monopolistic competition is a market structure that has many firms producing similar but slightly distinguished products
Monopoly in Economics | Definition, Characteristics Types A monopoly is a firm that is present in a market and faces little to no competition The types of monopolies include pure monopoly, natural monopoly, legal monopoly, and monopolistic competition