Market structure
Monopoly
Ease of Entry
High barriers, extremely hard to enter
Control Over Price
Subatantial control over prices
Number of Producers
One Producer
Similarity of Products
Unique product
Perfect Competition
Ease Of Entry
Few Restrictions, ensures existing producers face competition from new firms.
Control Over Price
No control over price.
Number of Producers
Many producers
Similarity of Products
Practically identical products
Monopolistic Competition
Ease of Entry
Easy to enter
Control Over Price
Some control over prices.
Number Of producers
Many Producers
Similarity of products
Differentiated products, created to seperate themselves from competition
Oligarchy
Ease Of Entry
Very difficult to enter
Control over prices
Moderate control over prices
Number of producers
Few producers
similarity of products
Similar products