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Market Models: Pure Competition, Monopolistic Competition, …
A modern economy has many different types of industries. However, an economic analysis of the different firms or industries within an economy is simplified by first segregating them into different models based on the amount of competition within the industry. There are 4 basic market models: pure competition, … See more
From the consumer point of view, pure competition is the best type of market, because it gives consumers the greatest consumer surplus and maximizes total … See more
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