perfect competition
what is the level of differentiation between products
very little/nearly identical
how many sellers are in monopolistic competition
several
how much control do oligopolies have over price
significant control
how many sellers are in a pure monopoly
one
if there is no competition the prices will be higher true or false
true
how much power do they have over prices
none
how easy is it to enter a monopolistic competition market.
fairly easy
how many sellers
few sellers
how much control do they have over prices
complete control
which market structure typically has the lowest prices
perfect competition
how many sellers are in a perfect competition market
many
what are some product examples
restaurants
electronic repair shops
what type of products are in an oligopoly
standardized suppliers and differentiated products
how hard is it to enter
very hard/almost impossible
what are some obstacles that make it harder for one to enter a market
money, publicity, and competition
what are some product examples
eggs, wheat, notebooks, and pens
what type of product is sold in a monopolistic competition
differentiated
how difficult is it to enter
properly hard
what type of competition is a pure monopoly
no competition
what market structures are priced non price based.
oligopoly and monopolistic competition
what type of competition is perfect competition
priced based
what type of competition is a monopolistic competition.
non-priced based.
what are some examples
movies auto industry cereal sports
what are the 4 legal monopolies
natural, geographic, technological, and governmental
give an example of each type of pure monopoly.
USPS, remote gas station, semi conductor industry, and many newly introduced inventions.