Market Structure What is MARKET? What is MARKET STRUCTURE ? A market is a medium where sellers meet buyers to exchange goods and services. Market Structure.

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Presentation transcript:

Market Structure

What is MARKET? What is MARKET STRUCTURE ? A market is a medium where sellers meet buyers to exchange goods and services. Market Structure are the conditions under which sellers and buyers interact in the market.

MARKET STRUCTURE Perfect Competition Imperfect Competition Monopoly Oligopoly Monopolistic Competition

PERFECT COMPETITION Many buyers & sellers Buyers Sellers

PERFECT COMPETITION Products are homogeneous

Free entry to & exist from the market PERFECT COMPETITION

Perfect Information PERFECT COMPETITION Worth $5

Example PERFECT COMPETITION

MONOPOLY Only 1 seller We are all buyers

Products are homogeneous or heterogeneous MONOPOLY Vs

No entry to the market MONOPOLY

Imperfect information MONOPOLY $5 ?! $3 ?! $1 ?!

Example MONOPOLY

Oligopoly Only a few sellers 成功人士之篇

Products are homogeneous or heterogeneous Oligopoly Vs

Entry are restricted Oligopoly

Imperfect information Oligopoly ???????????????? ……

Example Oligopoly Towngas

MONOPOLISTIC COMPETITION Many buyers & sellers Buyers Sellers

Products are heterogeneous MONOPOLISTIC COMPETITION Vs

Free entry to & exist from the market MONOPOLISTIC COMPETITION

MONOPOLISTIC COMPETITION Nearly perfect information $ $$ $ $ $ $ $ $$ We know everything…… $$ $ ? ? ? ? ? ?

MONOPOLISTIC COMPETITION Example TAXI Haircut

Perfect Competition Monopoly Oligopoly Monopolistic Competition

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