Directions: Match the corresponding definition or characteristics to the market structures. Write the letter of the appropriate answer from the box below. C. Perfect Competition A. Monopoly B. Monopolistic Competition D. Oligopoly 1. Composed of few companies. 2. Type of imperfect competition. 3. Products don't have close alternatives. 4. Producers cannot influence the price in the market. 5. Products can substitute each other. 6. Merchants have the power or the authority to manipulate their products. 7. Entrepreneurs are price setters but within a certain range. 8. Entrepreneurs are price takers. 9. Products are differentiated but not perfect substitutes. 10. The firms are interdependent with each other. 11. Information are easily accessible. 12. Products are almost similar. 13. Contains a single firm. 14. It is usually unwelcomed to society. 15. Most companies use national media for advertisements.

Directions: Match the corresponding definition or characteristics to the market structures. Write the letter of the appropriate answer from the box below. C. Perfect Competition A. Monopoly B. Monopolistic Competition D. Oligopoly 1. Composed of few companies. 2. Type of imperfect competition. 3. Products don't have close alternatives. 4. Producers cannot influence the price in the market. 5. Products can substitute each other. 6. Merchants have the power or the authority to manipulate their products. 7. Entrepreneurs are price setters but within a certain range. 8. Entrepreneurs are price takers. 9. Products are differentiated but not perfect substitutes. 10. The firms are interdependent with each other. 11. Information are easily accessible. 12. Products are almost similar. 13. Contains a single firm. 14. It is usually unwelcomed to society. 15. Most companies use national media for advertisements.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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PLS HELP! MARKET STRUCTURE
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