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Homework - Topic 9 - ECO-103


Create a matrix that compares the 4 industry models of competition using the characteristics listed below:


Perfect Competition

Monopolistic Competition

Oligopoly

Monopoly

# of firms?

Barriers to entry: high or low?

Homogenous or Differentiated product?

Shape of the demand curve?

Price taker or maker?

Example of an industry?

Can make profit in short run? Yes or No

Can make a loss in short run?

Can break even in short run?

Can make a profit in long run?

Mutual Interdependence? yes or no?

Does price leadership exist?

Another distinguishing factor you want to add.


 


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Apr 19, 2020

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