Using the following data on Price structure of three market forms, Perfect competition, monopoly and monopolistic competition, draw the AR curves in the same diagram and compare their price elasticity of demand

Using the following data on Price structure of three market forms, Per

1.	Using the following data on Price structure of three market forms, Perfect competition, monopoly and monopolistic competition, draw the AR curves in the same diagram and compare their price elasticity of demand
Answer» Answer :1. PERFECT competition : PERFECTLY elastic 2. Monopoly : LESS elastic 3. MONOPOLISTIC competition : More elastic