Type of Market - teacher copy

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

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

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