Market Structure worksheet

 

Market Structure Worksheet

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Describe the characteristics clearly and completely for each of the market structures.

Characteristic

Market type

Concentration Product differentiation Barriers to entry
Perfect competition Low concentration, many buyers and sellers such that no single one has an effect on the market price. 4-firm ratio probably less than 30%, but could be greater.    
Monopolistic competition      
Oligopoly      
Monopoly      

 

Outcome ► Market power?

From what?

Allocative efficient?

Why/why not?

Product differentiation? Can firm earn Economic profits?
Market type ▼ Test:

 

Test: ________ Test: __________ Why/why not?
Perfect competition        
Monopolistic competition        
Oligopoly        
Monopoly        

 

 

 

 

 

 

 

 

Market Structure Describe Typical Market Strategies in this Market Structure
Perfect competition  
Monopolistic competition  
Oligopoly  
Monopoly