Compare and contrast the four industry structures in terms of their structure and performance in the the long run. The structure of an industry is defined by looking at how many firms are in the industry, whether the industry produces a heterogeneous or homogeneous product, the ease of entry into the industry and the degree information is shared in the industry. The long run performance of an industry is defined by looking at whether an industry is guaranteed to achieve no long run profits, technological efficiency and alocative efficiency.

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