13. Describe the 4 market structures with regards to number of sellers, barriers to entry, price control, and product differentiation. Market Structures 1.Perfect Competition Number of Sellers Barriers to Entry 2.Monopolistic Competition 3. Oligopoly In a monopolistic competition structure, a number of sellers sell similar products but not identical products. 4.Monopoly Price Control Product Differentiation
13. Describe the 4 market structures with regards to number of sellers, barriers to entry, price control, and product differentiation. Market Structures 1.Perfect Competition Number of Sellers Barriers to Entry 2.Monopolistic Competition 3. Oligopoly In a monopolistic competition structure, a number of sellers sell similar products but not identical products. 4.Monopoly Price Control Product Differentiation
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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