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Market Structures in Economics by CriziaClaire Cosme is a document available to read on EtoBox.
What is Market Structures in Economics about?
The document discusses different market structures: perfect competition, imperfect competition (monopolistic competition, oligopoly, monopoly). Perfect competition has many small firms, homogeneous products, free entry and exit. Monopoly is sole seller of unique product. Oligopoly has few interdependent firms. Monopolistic competition has many sellers of differentiated products with free entry and exit. The market structure affects competition, pricing and firm behavior in the industry.
- Author
- CriziaClaire Cosme
- Language
- EN