In perfect competition
The price equals the marginal revenue
The price equals the average variables costs
The fixed cost equals the variable costs
The price equals the total costs
A monopolistic competition
Firm face a perfectly elastic demand curve.
All products are homogeneous
Firms make normal profits in the long run
There are barriers to entry to prevent entry
Product homogeneity is a feature of
Monopoly
Perfect competition
Duopoly
Oligopoly
A firm can fix independent price under - market
Pure competition
Imperfect competition
