(solution) 1. Explain difference in perfectly competitive industry and

(solution) 1. Explain difference in perfectly competitive industry and

1. Explain difference in perfectly competitive industry and oligopoly, monopoly&monopolistic firm.

2. Explain difference short run and long run production costs off firm.

3. Explain marginal product of labor in the production process of a good or service.

4. Explain how Oligopoly firm and mono firm engage in non profit price competition.

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Date of submission: 2 Explain the difference in the perfectly competitive industry and oligopoly, monopoly
monopolistic firm.
Economically, it is assumed that there…