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Name: [Type your name here.]Complete the following table by filling in each of the empty cells. In each cell, include a brief description of how the characteristic listed in the left-hand column influences market dynamics, as well as the practices and strategies of firms within the market. The first cell has been completed as an example. Submit this completed worksheet to your instructor.CharacteristicPure Competition Monopolistic Competition OligopolyMonopolyNumber of buyersUnlimited number of buyers, such that no one buyer has any control over the market price; in other words, the buyers or consumers are price takers. This means they can buy as much or as little as they want at the fixed market price facing an individual consumer.Number of sellersUnlimited number of sellers, such that no one seller has any control over the market price; in other words, the sellers or producers are price takers. This means they can sell as much or as little as they want at the fixed market price facing an individual firm.Degree of product differentiationEase of entry
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