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Differentiating Between Market Structures Paper
Differentiating Between Market Structures

By: Keri Kerr

ECO/361 Economics for Business II

University of Phoenix

April 14, 2008

Faculty Member, Michael Hebert

Prepare a table that compares and contrasts the various elements of four different market structures.

Perfect Competition Monopoly Monopolistic Competition Oligopoly
Example of a firm Gas Stations Qwest Excel Energy Grocery Stores
Goods/Services produced Gas Land Line Phone service Heat, electricity, gas Basic living essentials
Barriers to Entry Oil production, government regulation Power outages, international regulations Regulations Produce, meat, cheese, drugs
Number of firms Hundreds of companies, thousands of locations One One Same as gas stations, thousands
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