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
Chapter10: Monopolistic Competition And Oligoply
Section: Chapter Questions
Problem 4SQP
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