Market structures

- 4 types of market : perfect competition, monopoly, oligopoly, monopplistic competition

Number of Price Homogenity of Opportunity/ Price
seller vs buyer elasticity products Thread of taker/
competition maker
Perfect -There are a Perfect all firms sell an Thread of Price taker
competition large number elasticity identical competion high
of producers product, (Both sellers
and consumers products are and
competing homogeneous customers have
with one absolutely no
another in this influence on
kind of market price)
environment.

Monopoly one seller or Inelastic Homogeneous Because there Consumer:

(độc quyền producer of a is no price taker
bán) good and competition, Seller:
many buyer this seller can price
charge any maker.
price they want
(subject to
buyers'
demand) and
establish
barriers to
entry to keep
new companies
out.
oligopoly Many buyer Depends on depends on the Opportunity for Seller:
and few seller the marker market collusion price
maker
(phụ thuộc
vào chiến
lược
doanh
nghiệp)
Monopolistic Many buyers elastic Khác biệt giữa Mức độ cạnh Cty căng
competition and seller chất lượng các tranh ko cao, gia nhập
sản phẩm ( dễ dàng tgia thị sau : price
Heterogeneous) trường taker
Monopsony
(độc quyền
mua) (ít
xhien)