Economics

Economics TYPES OF MARKETS STRUCTURES: Perfect competition = Pure Competition noncompetitive Competition Oligopoly Monopoly Perfect Competition =- Dosesnt exist Characteristics: Large # of buyers and sellers consistent Product = products have to be the same Perfect cognition = all buyers and all sellers know what each are doing bighearted entry and exit = these people can leave or enter market whenever One price Resources are mobile.

neat Run = not enough time for people to subscribe to changes Long Run = time to make changes the supply mold is the marginal cost persuade above the demand curve Decreasing Cost = type of market people would standardised to be in. Expansion in numbers, reduction in scuttlebutt costs. Constant Cost = Page 577, constant return increase Cost = example, Bus Lines MONOPOLY = a market structure example, atomic number 10 Utilities Characteristics: No Close Substitutes Inelastic product One seller, legion(predicate) busyers little knowledge high barriers to ent...If you want to get a full essay, order it on our website: Ordercustompaper.com

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