Match the characteristics with their market structure:
(a) Firm has control over quantity of output but it must take into account reactions of competitors.
b) Firm will tend to set output so that it earns maximum profits.
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Q:
Match the characteristics with their market structure:
(a) Firm has control over quantity of output but it must take into account reactions of competitors.
b) Firm will tend to set output so that it earns maximum profits.
- 1(a) Oligopoly, (b) Pure competitiontrue
- 2(a) Monopolistic competition, (b) Oligopolyfalse
- 3(a) Pure Monopoly, (b) Pure competitionfalse
- 4(a) Oligopoly, (b) Pure Monopolyfalse
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