lol

lol

Monday, January 30, 2012

warm up on perfect competition

Warm up

Number of firms

Market power

Level of differentiation

Barriers to entry

Examples

Perfect composition

Infinite

none

Homogenous

No

Agricultural

Monopolistic competition

many

small

Lots- differentiate

Small

Clothing

oligopoly

3-4 (70 %)

Quite large

Maybe- homogenous or heterogeneous products

Very hard

Oil/cereal

monopoly

1

100%

None

Virtually impossible

EDF

(Energy of france)

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