MT445_Unit5_Assignment verity ponichtera new.docx - Unit...

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Unit 5 [MT445] Unit 5 Assignment: Perfectly Competitive and Monopoly Firms Student Name: Verity Ponichtera 1. How does the demand curve faced by a perfectly competitive firm differ from the market demand curve in a perfectly competitive market? Explain .
2. How does the profit maximization condition for a monopoly differ from that for a perfectly competitive firm? How does this difference impact efficiency under each market structure?

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