Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Fill in the table by the main characteristics of the competitive markets.
Criteria:
Pure and perfect competition
Imperfect competition
Monopolistic competition
Oligopoly
Monopoly
Number of sellers
Number of buyers
Type of the commodity
Price control
Barriers of entry to the market
Access to the market information
Examples of real production markets
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