Week 4 Market Structure Table

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Differentiating Between Market Structures Table

Compare the four market structures by filling in the table.

| |Perfect competition |Monopoly |Monopolistic competition |Oligopoly | |Example organization |General Mills-Green Giant |In south west Florida the power company |Charmin |Chevrolet | | | |FPL is a monopoly. | | | |Goods or services produced by the |Canned and frozen vegetables. |Electricity for local business, |Toilet paper |Automobiles, trucks and vans. | |organization | |consumers, and government. | | | |Barriers to entry |Very few barriers to entry |Many barriers to entry |Few barriers to entry |Some barriers to entry | |Number of organizations |Few barriers results in many firms |A monopoly consists of one firm |Monopolistic competition is the result |An oligopoly consists of a few | | |offering the same product. |producing a unique product. |of many firms producing a similar but |firms selling similar or | | | | |slightly different product. |differentiated products. | |Price elasticity of demand |Demand...
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