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