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Complete all of the columns. For number of firms answer many, one or few. If products...

  1. Complete all of the columns. For number of firms answer many, one or few. If products are homogenous or differentiated just put down one of those terms. Is price a decision variable and easy entry are answered with a yes or no. Thus, the previous answers are not long discussions. Distinguished by would be more descriptive, and examples would be short. For the example cells, put down an industry or a company, nothing too long.

Market Structure

Number of Firms (Many, One, or Few)

Products Differentiated or Homogeneous

Is Price a Decision Variable

Easy Entry

Distinguished By

Examples

Perfect (pure)Competition

Monopoly

Monopolistic Competition

  

Oligopoly
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