Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

LSE > EC102 Market Assumptions > Flashcards

EC102 Market Assumptions Flashcards

1
Q

Perfect competition

A

Sellers are price takers
Buyers are price takers
No strategic behaviour
Free entry

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Monopoly

A

Sellers are price makers
Buyers are price takers
No strategic behaviour
Blocked entry

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Oligopoly (duopoly)

A

Sellers are price makers
Buyers are price takers
Strategic behaviour
Entry may or may not be blocked

How well did you know this?
1
Not at all
2
3
4
5
Perfectly

LSE (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions