types of market structures
This market structure has only one seller and high barriers to entry.
What is a monopoly?
This company was famously broken up in 1982 for monopolizing the telephone industry.
what is AT&T
The rule that profit is maximized where marginal cost equals this.
What is marginal revenue
In perfect competition, firms are this type of price taker.
What is a price taker?
This federal agency enforces antitrust laws in the United States.
What is the Federal Trade Commission (FTC)?
A market with many sellers offering similar but not identical products.
What is monopolistic competition?
This tech giant faced anti-trust scrutiny in the late 1990s over its browser bundling.
What is Microsoft
In a monopoly, this type of pricing power is held.
What is price maker power?
This type of regulation sets a maximum price that a monopoly can charge to prevent price gouging.
what is price ceiling regulation.