iosumm
DESCRIPTION
probabilityTRANSCRIPT
A COMPARISON OF
A COMPARISON OF PERFECT COMPETITION, MONOPOLISTIC COMPETITION, MONOPOLY, & OLIGOPOLY
Type of Number of Type of Market Sellers Product Price SR profit LR Profit
------- ---------- ------- ----- --------- ---------
perfect equal pos., neg.,
competition many identical to MC or zero zero
monopolistic greater pos., neg., competition many differentiated than MC or zero zero
greater pos., neg., pos. or
monopoly one ----- than MC or zero zero
oligopoly few identical or greater pos., neg., pos. or
differentiated than MC or zero zero