Monopolistic Competition

?
Monopolistic competition def
Where a large number of small firms produce non homogeneous goods where there are no barriers to entry and exit
1 of 5
Number of firms
Many
2 of 5
Type of product
Differentiated
3 of 5
Pricing power
Some
4 of 5
Efficiency
No (P>MC)
5 of 5

Other cards in this set

Card 2

Front

Number of firms

Back

Many

Card 3

Front

Type of product

Back

Preview of the front of card 3

Card 4

Front

Pricing power

Back

Preview of the front of card 4

Card 5

Front

Efficiency

Back

Preview of the front of card 5

Comments

No comments have yet been made

Similar Economics resources:

See all Economics resources »See all Monopoly resources »