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. A.infinite B.many C.Few dominante firms D.One Choose an item. A.Unique B.differentiated C. Identical D.Differentiated or identical Choose an item. A.yes B. NO Choose an item. A.P=MC B.P>MC C.PMC C. PMC C. PMC C P< Mc Choose an item. A. Yes B. No Choose an item. A. Yes B NO Choose an item. A. Yes B. No [Insert two to three example industries that meet the criteria of the market structure.]
|
Market Structure |
Number of Firms |
Type of Product Sold |
Price Taker? |
Price Formula |
Freedom of Entry? |
Short-run Profit? |
Long-run Profit? |
Industry Examples |
|
|
Choose an item. A.infinite B.many C.Few dominante firms D.One |
Choose an item. A.Unique B.differentiated C. Identical D.Differentiated or identical |
Choose an item. A.yes B. NO
|
Choose an item. A.P=MC B.P>MC C.P<MC
|
Choose an item. A. YES B.NO
|
Choose an item. A.YES B.No
|
Choose an item. A. Yes B. No
|
[Insert two to three example industries that meet the criteria of the market structure.] |
|
Monopolistic Competition |
Choose an item. A. Infinte B.Many C. Few dominant firms D. One |
Choose an item. A. Unique B.Differentiated C. Identical D.Differentiated or Identical
|
Choose an item. A. Yes B. No
|
Choose an item. A.P=MC B.P>MC C. P<MC
|
Choose an item. A. Yes B NO
|
Choose an item. A. Yes B. No
|
Choose an item.
A. Yes B. No
|
[Insert two to three example industries that meet the criteria of the market structure.] |
|
Monopolies |
Choose an item. A. Infinte B.Many C. Few Dominant firms D. One
|
Choose an item. A. Unique B.Differentiated c. Identical D.Differentiated or Identical
|
Choose an item. A. Yes B. No
|
Choose an item. A. P=Mc B. P>MC C. P<Mc
|
Choose an item.
A. Yes B. No
|
Choose an item.
A. yes B. No
|
Choose an item.
A. Yes
B. No |
[Insert two to three example industries that meet the criteria of the market structure.] |
|
Oligopolies |
Choose an item. A. Infinte B. Many C. Few dominant firms D, one
|
Choose an item. A. Unique B.Differentiated C. Identical D.Differentiated or Identical
|
Choose an item. A. Yes B. No
|
Choose an item. A P=MC B P>MC C P< Mc
|
Choose an item. A. Yes B. No
|
Choose an item. A. Yes B NO
|
Choose an item. A. Yes B. No
|
[Insert two to three example industries that meet the criteria of the market structure.] |
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