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    Comparison Worksheet

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    This document compares four market structures - perfect competition, monopolistic competition, oligopoly, and monopoly - based on the number of firms, control over price, types of goods, barriers to entry, and availability of substitutes. Perfect competition has a very high number of firms, very low control over price, similar goods, very low barriers to entry, and perfect substitutes. Monopoly has a very low number of firms, very high control over price, differentiated goods where it is the only provider, very high barriers to entry, and no substitutes.

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    Comparison Worksheet

    Uploaded by

    ear
    7 views1 page
    This document compares four market structures - perfect competition, monopolistic competition, oligopoly, and monopoly - based on the number of firms, control over price, types of goods, barriers to entry, and availability of substitutes. Perfect competition has a very high number of firms, very low control over price, similar goods, very low barriers to entry, and perfect substitutes. Monopoly has a very low number of firms, very high control over price, differentiated goods where it is the only provider, very high barriers to entry, and no substitutes.

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    COMPARISON WORKSHEET

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    This document compares four market structures - perfect competition, monopolistic competition, oligopoly, and monopoly - based on the number of firms, control over price, types of goods, barriers to entry, and availability of substitutes. Perfect competition has a very high number of firms, very low control over price, similar goods, very low barriers to entry, and perfect substitutes. Monopoly has a very low number of firms, very high control over price, differentiated goods where it is the only provider, very high barriers to entry, and no substitutes.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    7 views1 page

    Comparison Worksheet

    Uploaded by

    ear
    This document compares four market structures - perfect competition, monopolistic competition, oligopoly, and monopoly - based on the number of firms, control over price, types of goods, barriers to entry, and availability of substitutes. Perfect competition has a very high number of firms, very low control over price, similar goods, very low barriers to entry, and perfect substitutes. Monopoly has a very low number of firms, very high control over price, differentiated goods where it is the only provider, very high barriers to entry, and no substitutes.

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    of 1

    COMPARING MARKET STRUCTURES

    MARKET NO. OF FIRMS CONTROL OVER TYPES OF GOODS BARRIERS TO CHOICES / SUBSTITUTES
    STRUCTURE (VERY HIGH – PRICE ENTRY (PERFECT SUBSTITUTES
    HIGH – LOW- (VERY HIGH – (SIMILAR (VERY HIGH – VERY CLOST SUBSTITUTES-
    VERY LOW_ HIGH – LOW- -DIFFERENTIATED HIGH – LOW- CLOSE SUBSTIITUTES – NO
    VERY LOW_ VERY LOW SUBSTITUTES)

    PERFECT Very High Very Low Similar Very Low Perfect substitutes
    COMPETITION

    MONOPOLISTIC High Low Differentiated Low Very close substitutes


    COMPETITION

    OLIGOPOLY Low High Differentiated High Close substitutes

    MONOPOLY Very Low Very High Differentiated Very High No substitutes


    (Only one)

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