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4 MARKET STRUCTURES COMPARISON CHART
Compare four market systems according to the following categories:
| |4 MARKET STRUCTURES |PERFECT COMPETITION |MONOPOLISTIC COMPETITION |OLIGOPOLY |PURE MONOPOLY |
| | | | | | |
|1 |Number of firms | | | | |
|2 |Firm's control over price | | | | |
|3 |Condition of entry | | | | |
|4 |Product characteristics | | | | |
|5 |Price elasticity of demand | | | | |
|6 |Consumer surplus | | | | |
|7 |R & D expenditure | | | | |
|8 |Income distribution | | | | |
|9 |Allocative efficiency | | | | |
|10 |Productive efficiency | | | | |
|11 |Economic profit in Short run | | | | |
|12 |Economic profit in Long run | | | | |
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