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Firms In Competitive Market (Market Structure) - Coggle Diagram
Firms In Competitive Market (Market Structure)
MONOPOLY
Similiraity of products
Unique Product
Ease of entry
High barriers to entry
Number of producer
One Producer
Control over prices
Substantial control over prices
Perfect Competition
Similarity of products
Identical
Ease of entry
Subtopic
Number of producers
Lots
Control over prices
Subtopic
Monopolistic Competition
Similarity of products
Yes with some differences
Ease of entry
Kind of
Number of producers
Yes
Control over prices
Some coupons
OLIGOPOLY
Similarity of products
Some
Ease of entry
Hard/Collusion
Number of producers
Not a lot
Control Over Price
Some
Market Failure
Positive Externality
a benefits that falls on someone other than the producer or consumer
Negative Externality
a cost that falls on someone other than the producer or consumer