How can you tell what kind of market structure something is by only looking at a...

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Economics

How can you tell what kind of market structure something is byonly looking at a graph that shows demand, marginal revenue (in theshort and logn run) and marginal cost and average cost? What do youlook for to determine the type of market structure that it is?

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To Determine the type of the market we look at the position of the Demand Curve Marginal Revenue Curve Marginal Cost curve and Average Cost Curve both in the long run and short run For a Perfect Competition Market the demad curve is always equal to or coincides with the Marginal Revenue curve of a perfectly competitive See Answer

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How can you tell what kind of market structure something is by only looking at a...

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Verified Solution

Question

Economics

How can you tell what kind of market structure something is byonly looking at a graph that shows demand, marginal revenue (in theshort and logn run) and marginal cost and average cost? What do youlook for to determine the type of market structure that it is?

Answer & Explanation Solved by verified expert

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