In the short run, a firm in any of the market models can operate at a(n) loss or economic profit, or normal profit.
What are the 4 types of market structures?
The four types of economic market structures are an oligopoly, monopoly, perfect competition, and monopolistic competition. The following characteristics explain why the categories are different: In oligopoly, there are few producers, many in perfect and monopolistic competition, and one in monopoly.
What happens to a monopolistic competitive firm in the short run?
A monopolistically competitive company optimizes profits or minimizes losses in the short run by producing the amount where marginal revenue equals marginal cost. The company will make an economic profit if the average total cost is lower than the market price.
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