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draw graphs of each market structure using the following information: profit maximizing level of output 400 price at $100I U U P S Rena + Shek. 3. Draw graphs of each market structure using the following information: Profit-maximizing level of oub. Monopoly C. Monopolistic competition d. Oligopoly

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Answer #1

Refer the attached picture below

400 Perfect competition

Now refer the attached picture for the monopoly

ATC МС 400 MR

In all cases that is monopoly, oligopoly and monopolistic the graph would be similar as all the market structures the firms maximizes profit at MR = MC. Thus, same graph would be applicable to all.

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