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2. Why should we care about correctly modeling imperfectly competitive markets? A. Most real-world markets are...

2. Why should we care about correctly modeling imperfectly competitive markets?

A. Most real-world markets are imperfectly competitive.

B. Correct models help us explain how market structure influences firm behavior and consequent market performance.

C. Understanding how these markets work allows us to intervene with welfare-enhancing policies when necessary, and to know when policy tools might not be very helpful.

D. All of these.
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Answer #1

"D"

All the given options are correct. All the market in the world are imperfect. To intervene in them and increase the welfare of the people and manage the market we need to know them better.

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