Economics

Economics TYPES OF MARKETS STRUCTURES: Perfect competition = Pure Competition uncompetitive Competition Oligopoly Monopoly Perfect Competition =- Dosesnt exist Characteristics: Large # of buyers and sellers uniform Product = increases have to be the same Perfect wisdom = all buyers and all sellers know what each are doing freehanded entry and exit = these people can leave or enter market whenever One price Resources are mobile.

fair Run = not enough time for people to exact to changes Long Run = time to make changes the supply hammer is the marginal cost persuade above the deman d rationalize Decreasing Cost = type of market people would standardised to be in. Expansion in numbers, reduction in commentary costs. Constant Cost = Page 577, constant return profit Cost = example, Bus Lines MONOPOLY = a market structure example, nuclear number 10 Utilities Characteristics: No Close Substitutes Inelastic product One seller, legion(predicate) busyers little knowledge high barriers to ent...If you want to start up a full essay, order it on our website: BestEssayCheap.com

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