10.2 Flashcards
(15 cards)
1
Q
Perfect competition
A
Many competitors
identical products
no barriers to entry
2
Q
Monopolistic competition
A
many competitors
differentiated products
low barriers to entry
3
Q
Oligopoly
A
few competitors
same or differentiated products
same barriers to entry
4
Q
Monopoly
A
no competition
unique production
barriers to entry
4
Q
barriers to entry
A
government regulation
suppky side factors
demand side factors
4
Q
natural monopoly
A
economies of scale
high fixed costs
5
Q
A
5
Q
A
5
Q
A
5
Q
A
5
Q
A
5
Q
A
5
Q
A
6
Q
A
6
Q
A
