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MARKET STURCTURE - Coggle Diagram
MARKET STURCTURE
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perfect competition
characteristic
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perfect knowledge of products offered - firm and consumers know all about the market - price, product and available technology
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monopolistic
characteristic
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more than one seller as compared to perfect competition - many firms competing for the same group of customers
differentiated products and presence of brand-name product - each firm produces a product that is at least slightly different from other firm
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existence of non-price competition like advertisement and price leadership and collusion (agreement)
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