retail outlets operate in which of the following market structures
We know that all firms will maximize profits at the output level where mr=mc.
In the real world, firms operate in a large variety of environments. [ These
different environments, based on different market conditions, influence the
behavior of different firms in different ways.
In order to analyze this real life behavior, economists have identified
characteristics that make some firms similar to
each other, and other firms
different from one another. This has led to the study of firms based on four
categories of market structure: perfect competition, monopolistic
competition, oligopoly, and monopoly.
There are no new answers.