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characteristics of - Coggle Diagram
characteristics of
monopoly
one single seller
complete ability to set prices
no close substitutes
significant barriers to entry
monopolistically competitive market
many sellers
limited control over price
differentiated product
no barriers to entry
competitive market
many sellers
price taker
similar or the same product
no barriers to entry
oligopoly
few large sellers
significant barries to entry
Products may be homogeneous or differentiated
Control over price