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    Market Structure

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    sashadiukin
    This document outlines different market structures including monopoly, oligopoly, duopoly, monopolistic competition, and perfect competition. It notes key characteristics of each such as the number of buyers and sellers, level of competition, pricing power, and barriers to entry. For example, a monopoly has a single seller, significant barriers to entry, and is a price maker, while perfect competition has many buyers and sellers, homogeneous products, and firms that are price takers.

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    Market Structure

    Uploaded by

    sashadiukin
    9 views1 page
    This document outlines different market structures including monopoly, oligopoly, duopoly, monopolistic competition, and perfect competition. It notes key characteristics of each such as the number of buyers and sellers, level of competition, pricing power, and barriers to entry. For example, a monopoly has a single seller, significant barriers to entry, and is a price maker, while perfect competition has many buyers and sellers, homogeneous products, and firms that are price takers.

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    This document outlines different market structures including monopoly, oligopoly, duopoly, monopolistic competition, and perfect competition. It notes key characteristics of each such as the number of buyers and sellers, level of competition, pricing power, and barriers to entry. For example, a monopoly has a single seller, significant barriers to entry, and is a price maker, while perfect competition has many buyers and sellers, homogeneous products, and firms that are price takers.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    9 views1 page

    Market Structure

    Uploaded by

    sashadiukin
    This document outlines different market structures including monopoly, oligopoly, duopoly, monopolistic competition, and perfect competition. It notes key characteristics of each such as the number of buyers and sellers, level of competition, pricing power, and barriers to entry. For example, a monopoly has a single seller, significant barriers to entry, and is a price maker, while perfect competition has many buyers and sellers, homogeneous products, and firms that are price takers.

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    © All Rights Reserved
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    of 1

    Single buyer Interdependence among firms

    Monopsony
    Significant buyer power Few large firms dominate
    Oligopoly
    Limited competition

    Two dominant firms High entry barriers


    Duopoly
    Strategic interactions

    Single seller

    Few buyers Unique product

    Significant buyer power


    Oligopsony Market Structure Monopoly
    Price maker

    Significant barriers to entry

    Large number of buyers and sellers

    Homogeneous products Many buyers and sellers

    Price takers Perfect Competition Differentiated products


    Monopolistic Competition
    Perfect information Some pricing power

    Easy of entry and exit Advertising and branding

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