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Market Structure and Types of Market Structure
 

Market Structure and Types of Market Structure

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This presentation is all about market structure and types of it.

This presentation is all about market structure and types of it.

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    Market Structure and Types of Market Structure Market Structure and Types of Market Structure Presentation Transcript

    • Market Structure BY:- Mithilesh Trivedi
    • What is The market Structure? Those characteristics of the market that significantly affect the behavior and interaction of buyers and sellers.
    • Things To Be Considered Number and size of sellers and buyers Type of the product Conditions of entry and exit Transparency of information
    • Types Of Market Structure 1.Pure (perfect) Competition 2.Monopoly 3.Monopolistic Competition 4.Oligopoly
    • Pure (perfect) Competition Many and small sellers, so that no one can affect the market Homogeneous product Free entry to and exit from the industry Transparent and free information
    • Curves in Perfect Competition E (Industry:– Price maker) (Firm:-Price takes)
    • Monopoly 1. A single seller: the firm and industry are synonymous. 2. Unique product: no close substitutes for the firm’s product. 3. The firm is the price maker: the firm has considerable control over the price because it can control the quantity supplied. 4. Entry or exit is blocked.
    • Curve in Monopoly AC:-Average Cost MC:-Marginal Cost
    • Monopolistic Competition Multiple firms produce similar products Firms face down sloping demand curves Profit maximization occurs where MC=MR In the limit, firms compete away economic profits
    • Curve in Monopolistic Competition
    • Oligopoly  Few large firms: each must consider its rivals’ reactions in response to its decisions about prices, output, and advertising.  Standardized or differentiated products  Entry is hard: economies of scale, huge capital investment may be the barriers to enter.
    • Curve in Oligopoly Competition