Monopolistic Competition Key Concepts
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Monopolistic Competition Key Concepts
- 6. Monopolistic competition Equilibrium of the firm: short run
- 7. Short-run equilibrium of the firm under monopolistic competition £ Q O Q s P s AC s AR D MC AC MR
- 8. Monopolistic competition Equilibrium of the firm: long run
- 9. Long-run equilibrium of the firm under monopolistic competition £ Q O Q L P L AR L D L MR L LRAC LRMC
- 10. Monopolistic competition Comparison with perfect competition (long run)
- 11. Long run equilibrium of the firm under perfect and monopolistic competition Q 2 £ Q O P 1 LRAC D L under monopolistic competition Q 1 P 2 D L under perfect competition