Please enable JavaScript.
Coggle requires JavaScript to display documents.
Perfect Competition (Market Structures (Perfect Competition (Most…
Perfect Competition
Market Structures
Perfect Competition
Most Competitive
competition policy
outlaw anti competitive practices
Large no. of small firms
no individual can affect market price
homogeneous product
no difference in product
easy to get into or leave
Monopolistic Competition
Monopoly
one seller
Price maker: faces downward sloping demand curve
Unique Product
Extremely Difficult to enter
ownership of a vital source
Legal Barriers
Economies of Sale
Public Utilities
Oligopoly