5.1 Market Structures

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4 Terms

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Which factors distinguish different market structures?

Number of firms, degree of product differentiation, and ease of entry.

2
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What are the two extremes on the spectrum of market structures?

Perfect competition and pure monopoly.

3
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What are the 4 Market Structures

Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly

4
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What is a market structure

The Characteristic of a market