Market Structures
Perfect Competition
Easy Entry
Many producers
Identical products
No control over prices
Monopolistic Competition
Limited Entry
Many producers
Differentiated products
Some control on prices
Monopoly
Hard to get involved in.
One producer
Unique product
Substantial over prices
Oligopoly
Hard entry
Few producers
Similar products
Some control on prices
Market Failures
Externalities
Positive
Getiing a flu shot
Negative
A mass amount of dumping in Lake Manawa
Goods
Public
Sams Club
Private
Walmart