unit 4 vocab
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Last updated 10:45 PM on 10/23/25
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6 Terms
1
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Imperfect competition
all market structures except pure competition
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Pure (perfect) monopoly
A market structure in which one firm sells a unique product, into which entry is blocked in which the single firm has considerable control over product price in which nonprice competition may or may not be found
3
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Monopolistic competition
And Marcus structure in which many firms sell a different product into which entry is relatively easy in which the firm has some control of which product price and in which there is considerable non-price competition
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Note 
Flashcards (43)