Downloaded 80 times
Uploaded byGale Pooley
Market structure review
The document discusses four types of market structures in microeconomics: perfect competition, monopoly, monopolistic competition, and oligopoly. It provides details on key characteristics of each type, such as sellers having the most market power under monopoly and the least under perfect competition. Most real-world markets exhibit monopolistic competition or oligopoly characteristics.
More Related Content
Similar to Market structure review
Market structure review
- 1.
- 2.
- 3. Four Types Perfect Competition Monopoly Monopolistic Competition Oligopoly
- 4.
- 5. Four Types Perfect Competition Monopoly Monopolistic Competition Oligopoly
- 6.
- 7. Four Types Perfect Competition Monopoly Monopolistic Competition Oligopoly
- 8.
- 9. Perfect Competition No marketpower Flat demand curve Commodity MC = MR
- 10.
- 11. Monopoly Somemarket power Downward demand curve MR steeper than Demand Barrier to Entry MC = MR
- 12. Three types ofMonopoly
- 13. Three types ofMonopoly One Price Two Price - Coupon Multiple Prices - Discrimination
- 14.
- 15. Monopolistic Competition Start asmonopoly but end as perfect competition Demand flattens Lose market power
- 16.
- 17. Monopolistic Competition Brands MC = MR
- 18.
- 19. Oligopoly Two Firms Game Theory Prisoner’s Dilemma
- 20. Sellers have themost market power in which market structure?
- 21. Sellers have themost market power in which market structure? Monopoly with Price Discrimination
- 22. Sellers have theleast market power in which market structure?
- 23. Sellers have theleast market power in which market structure? Perfect Competition
- 24. Most sellers existin which market structure?
- 25. Most sellers existin which market structure? Monopolistic Competition or Brand Competition
- 26. Sellers worry mostabout other sellers in which market structure?
- 27. Sellers worry mostabout other sellers in which market structure? Oligopoly
- 28. Why can amonopolist charge more?
- 29. Why can amonopolist charge more? Market Power Less competition Price Maker