Type of Market - teacher copy

Type of Market - teacher copy - product differentiatio n...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Name: __________________ Date: ___________________ Characteristics of the Different Types of Market Type of  Market Number of  Producers Goods Kind of  Competition Barriers  to entry Market  power? Demand  cure shape Perfect  competition A great  many Identical Price  competition No  barriers –  free entry No – price  taker horizontal Monopolistic  competition many Product differentiation : ads, brand names Non price competition; price competition Low  barriers (easy  entry) Firms attempt  to increase  power through 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: product differentiatio n Downward sloping Monopoly one Unique None No entry possible Yes price maker Downward sloping Oligopoly few Homogenous or differentiated Primarily non price competition Medium barriers (difficult entry) Firms can collude and form cartels to increase power (but high kinked Name: __________________ Date: ___________________ Characteristics of the Different Types of Market incentive to cheat)...
View Full Document

Page1 / 2

Type of Market - teacher copy - product differentiatio n...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online