market
- Created by: ishah
- Created on: 06-01-14 14:48
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- Market
- charcteristics
- relative size/ num firms
- num firms that can enter
- ease for new entrants
- homogeneous?
- shared knowledge of firms?
- extent actions affect others
- barriers to entry
- capital costs
- sunk costs
- scale economies
- natural cost adv
- legal
- marketing
- limit pricing
- anti-competitive pricing
- barriers to exit
- most firms low
- cost & time
- laws/contracts
- perfect competition
- suppliers - small share each
- too small to impact prices
- homogenous products
- perfect knowledge
- no externalities in production
- E.G foreign exchange & farmers
- suppliers - small share each
- market structures
- perfect comp
- monopoly
- imperf comp
- charcteristics
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