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Long Haoran
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Perfecr competition
Perfecr competition Characteristics of perfect competition There are many buyers and sellers The...
Oligopoly
Oligopoly A market where a few large sellers dominate the market for an identical or differentiat...
Monopoly
A monopoly A market where one firm dominates the market for a good that has no substitutes and wh...
Monopolistic competition
Monopolistic competition A market is monopolistically competitive if there are many firms produci...
Market failure
Market failure The failure of the market to allocate resources efficiently. Market failure result...
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