#cfa-level-1 #microeconomics #reading-16-the-firm-and-market-structures #study-session-4
Sections 3, 4, 5, and 6 analyze demand, supply, optimal price and output, and factors affecting long-run equilibrium for perfect competition, monopolistic competition, oligopoly, and pure monopoly, respectively.
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1. INTRODUCTION does a chosen pricing and output strategy evolve into specific decisions that affect the profitability of the firm? The answers to these questions are related to the forces of the market structure within which the firm operates.
<span>Sections 3, 4, 5, and 6 analyze demand, supply, optimal price and output, and factors affecting long-run equilibrium for perfect competition, monopolistic competition, oligopoly, and pure monopoly, respectively.
Section 7 reviews techniques for identifying the various forms of market structure. For example, there are accepted measures of market concentration that are used by regula Summary
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