Slide 1Pure Competition in the Long Run Sam, Greg, Rohit, Matt, Dylan Slide 2 In the long run... Pure competition describes an market where no firms are large enough to have…
Slide 1 Competition and Market Structures Slide 2 Jump Start Chapter 7 section 1 1.Perfect competition is characterized by all of the following EXCEPT: A.A smaller number…
Monopolistic Competiton Assumptions Many sellers and many buyers Slightly different products Easy entry and exit (low barriers) Effect of assumptions With many sellers, each…