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4 MARKET STRUCTURES COMPARISON CHART
Compare four market systems according to the following categories:
4 MARKET STRUCTURES
1 Number of firms
2 Firm's control over price
3 Condition of entry
4 Product characteristics
5 Price elasticity of demand
6 Consumer surplus
7 R & D expenditure
8 Income distribution
9 Allocative efficiency
10 Productive efficiency
11 Economic profit in Short run
12 Economic profit in Long run
PERFECT COMPETITION
MONOPOLISTIC
COMPETITION
OLIGOPOLY
PURE MONOPOLY
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