John Cooper Market Structures

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Types of market according to the competition

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John Cooper Market Structures

Oligopoly

Similarity of Products: Similar

Number of Producers: Few

Ease of Entry: Difficult

Market Failures

Positive Externiality

Negative Externiality

Perfect Competition

Similarity of Products: Identical

Number of Producers: High

Control Over Prices: None

Ease of Entry: Very Easy

Monopolistic Competition

Similarity of Products: Very Different

Number of Producers: Many

Control Over Prices: Some

Ease of Entry: Few barriers

Monopoly

Similarity of Products: Unique

Number of Producers: One

Control Over Prices: Substantial

Ease of Entry: Very Difficult