Market Structure worksheet
| Market Structure Worksheet
Describe the characteristics clearly and completely for each of the market structures. |
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| Characteristic
Market type |
Concentration | Product differentiation | Barriers to entry |
| Perfect competition | Low concentration, many buyers and sellers such that no single one has an effect on the market price. 4-firm ratio probably less than 30%, but could be greater. | ||
| Monopolistic competition | |||
| Oligopoly | |||
| Monopoly |
| Outcome ► | Market power?
From what? |
Allocative efficient?
Why/why not? |
Product differentiation? | Can firm earn Economic profits? |
| Market type ▼ | Test:
|
Test: ________ | Test: __________ | Why/why not? |
| Perfect competition | ||||
| Monopolistic competition | ||||
| Oligopoly | ||||
| Monopoly |
| Market Structure | Describe Typical Market Strategies in this Market Structure |
| Perfect competition | |
| Monopolistic competition | |
| Oligopoly | |
| Monopoly |
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