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When we compare diagrams for firms in different market structures, what do we notice? For competitive...

When we compare diagrams for firms in different market structures, what do we notice? For competitive firms and monopolistica

When we compare diagrams for firms in different market structures, what do we notice? For competitive firms and monopolistically competitive firms, the revenue curves are similar but the cost curves are quite different. For competitive firms and monopolistically competitive firms, the cost curves are similar but the revenue curves are quite different. For monopoly firms and monopolistically competitive firms, the revenue curves are similar but the cost curves are quite different. For monopoly firms and monopolistically competitive firms, the cost curves are similar but the revenue curves are quite different.
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Ans: For competitive firms and monopolistically competitive firms, the cost curves are similar but the revenue curves are quite different.

Explanation:

In a competitive market, AR and MR curves are same and has horizontal straight line parallel to X-axis. But, in a monopolistically competitive market, AR and MR curves are downward sloping and MR curve lies below the AR curve. But in both the market structure, cost curves (i.e., ATC, AVC and MC curves) are quite similar.

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