market structures Flashcards
1
Q
what are the 4 types of market
A
Monopoly
Oligopoly
Monopolistic
Perfect competition
2
Q
which markets have high barries to entry
A
monopoly
oligopoly
3
Q
how many firms in a monopoly
A
one dominant
4
Q
what are the different market shares for monopolies
A
25%-40% = legal monopoly
40%-99% = dominant monopoly
100% = Pure monopoly
5
Q
what are products like in perfect competition markets
A
homogeneous - they are all the same
