Question: Question 2: Fill out the table. (8 marks] Characteristic Perfect Competition Monopoly Monopolistic Competition Number of sellers Free entry/exit? Short run economic profits Long run

Question 2: Fill out the table. (8 marks] Characteristic Perfect Competition

Monopoly Monopolistic Competition Number of sellers Free entry/exit? Short run economic profits

Question 2: Fill out the table. (8 marks] Characteristic Perfect Competition Monopoly Monopolistic Competition Number of sellers Free entry/exit? Short run economic profits Long run economic profits Demand curve faced by the firm

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