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Market Structures

Since we discussed the four market structures as they relate to setting prices and output decisions ( perfect competition, monopolistic competition, oligopoly, and monopoly)

After reflecting on how a business can make decisions using the marginal cost marginal revenue idea? What market structure would you like to be a seller in? What market structure would you like to be a buyer in? How do you think understanding these concepts can help you be a better producer or a better consumer?

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