Name: Zeeshan Haider

Arid No.: 20-ARID-2127

QUIZ

Dear students you have a time of 2 days (25-01-2021 to 26-01-2021)

Q: Differentiate microeconomics market structure by means of examples?

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Graph Variable
Name of
No Of axis (y- (Like price, Curves Slope of
market Definition Assumptions Types Example
firms axis or demand, curve
x-axis) mc, etc)
The market in
Market’s
which there
 Perfect demand
are many
information. X axis Quantity curve slopes 1. Agriculture
buyers and
 Equal market are market
sellers, the
Perfect share. Demand downwards 2. Foreign
products are Many
Competition  Free entry or curve while firms exchange
homogeneous
exist of firms. demand 3. Online
and sellers
 Identical Y axis Price curve is a shopping
can easily
products MC, horizontal
enter or exit
AC,MR,AR line.
the market.
Imperfect The market  Control over One in Demand Downwards 1. Monopoly is  Microsoft.
Competition structures prices. Mono curve slope. the A market  Intel.
that lack one  Heterogeneous poly. structure
of the products. Few in X axis Quantity characterized
conditions  Difference in Oligop by a single
needed for prices. oly. seller, selling
 a unique
product in
the market.
2. Oligopoly is a
market that
is dominated
perfect Many by a few
competition. in large firms.
 Toyota.
There is little Mono 3. Monopolistic
 Sony.
or no polisti competition
competition in c occurs when
Price,
imperfect comp there are
Y axis MC,
market etition many sellers
AC,MR,AR  Restaurants.
structure. . who offer
similar  Hotels..
products that
aren't
necessarily
substituted.