FOUR MARKET STRUCTURE COMPARISON

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Compare four market systems according to the following categories:

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  4 MARKET STRUCTURES PERFECT COMPETITION MONOPOLISTIC COMPETITION OLIGOPOLY PURE MONOPOLY
           
1 Number of firms                  
2 Firm's control over price               
3 Condition of entry               
4 Product characteristics         
5 Price elasticity of demand        
6 Consumer surplus                       
7 R & D expenditure                      
8 Income distribution                      
9 Allocative efficiency                  
10 Productive efficiency                   
11 Economic profit in Short run        
12 Economic profit in Long run        

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