1. Market Structure Dr.Deepakshi Gupta

2. Perfect competition characteristics Infinite buyers and sellers
Zero entry and exit barriers
Perfect factor mobility
Perfect information
Zero transaction costs
Profit maximization -
Homogeneous products

3. Perfect competition

4. Monopolistic competition
Product differentiation
Many firms
Independent decision making
Market Power
Selling cost
AR>MR

5. Monopolistic competition

6. Monopoly Profit Maximiser Price Maker High Barriers to Entry
Single seller
Price Discrimination:

7. Oligopoly Profit maximization conditions: Ability to set price
Entry and exit
Number of firms
Long run profits
Product differentiation
Perfect knowledge
Interdependence:

8. KINK DEMAND CURVE