1ype of

Industry
Industry Attr|butes Lxamp|es I|rm
Conduct
Cpt|ons
Lxpected f|rm
performance
Soc|a|
We|fare
Imp||cat|ons
ÞerfecL
CompeLlLlon
Large noŦ of compeLlng
flrms Pomogenous
producLs LowŴcosL enLry
SLock markeL
crude oll
Þrlce Laklng normal Soclal welfare
maxlmlzed
MonopollsLlc
CompeLlLlon
Large noŦ of compeLlng
flrms PeLerogeneous
producLs
Low cosL enLry and exlLŦ
1ooLhpasLe
Shampoo Colf
balls AuLomoblles
ÞroducL
dlfferenLlaL
lon
Above normal Less Lhan
perfecL
compeLlLlon
Cllgopoly Small noŦ of CompeLlng
flrmsŦ Pomogenous or
PeLerogeneous producLsŦ
CosLly enLry and exlLŦ
uS sLeel and
auLos ln Lhe
1930s uS
breakfasL cereal
Colluslon Above normal Less Lhan
monopollsLlc
compeLlLlon
Monopoly Cne flrmŦ CosLly enLryŦ Þolarold ln lnsLanL
phoLographyŦ
MlcrosofL ln ÞC
operaLlng sysLem
use markeL
power Lo
seL prlces
Above normal Less Lhan
ollgopoly
Types oI Industry structure, FIrm conduct OptIons,
FIrm PerIormance and SocIaI WeIIare ImpIIcatIons