Market Structure | Number of Firms | Type of Product Sold | Price Taker? | Price Formula | Freedom of Entry? | Short-run Profit? | Long-run Profit? | Industry Examples |
---|---|---|---|---|---|---|---|---|
Perfect Competition | Choose an item. | Choose an item. | Choose an item. | Choose an item. | Choose an item. | Choose an item. | Choose an item. | [Insert two to three example industries that meet the criteria of the market structure.] |
Monopolistic Competition | Choose an item. | Choose an item. | Choose an item. | Choose an item. | Choose an item. | Choose an item. | Choose an item. | [Insert two to three example industries that meet the criteria of the market structure.] |
Monopolies | Choose an item. | Choose an item. | Choose an item. | Choose an item. | Choose an item. | Choose an item. | Choose an item. | [Insert two to three example industries that meet the criteria of the market structure.] |
Oligopolies | Choose an item. | Choose an item. | Choose an item. | Choose an item. | Choose an item. | Choose an item. | Choose an item. | [Insert two to three example industries that meet the criteria of the market structure.] |
Table 4.1