question
Many Small firms
answer
Perfect Competition: Firm number
question
Homogeneous or standardized
answer
Perfect Competition: type of product
question
very easy
answer
Perfect Competition: entry conditions
question
P = Mc
answer
Perfect Competition: Price and MC
question
Normal economic profit or loss
answer
Perfect Competition: short run profits
question
normal profit only
answer
Perfect Competition: Long run profits
question
horizontal or perfectly elastic
answer
Perfect Competition: Firm Demand curve
question
Many small firms
answer
Monopolistic Competition: Firm Number
question
heterogeneous or differentiated
answer
Monopolistic Competition: Type of Product
question
Very easy
answer
Monopolistic Competition: Entry conditions
question
P > MC
answer
Monopolistic Competition: Price and MC
question
Normal economic profit or loss
answer
Monopolistic Competition: Short Run Profits
question
Normal profit only
answer
Monopolistic Competition: Long Run Profits
question
Downward sloping or very Elastic
answer
Monopolistic Competition: Firm Demand curve
question
Few large firms
answer
Oligopoly: Firm Number
question
Homogeneous or differentiated
answer
Oligopoly: Type of Product
question
Higher Barrier
answer
Oligopoly: Entry conditions
question
P > MC
answer
Oligopoly: Price and MC
question
Normal economic profit or loss
answer
Oligopoly: Short Run Profits
question
Normal Economic profit or loss
answer
Oligopoly: Long Run Profits
question
Downward sloping may be kinked
answer
Oligopoly: Firm Demand Curve
question
One Firm
answer
Pure Monopoly: Firm Number
question
No close substitutes
answer
Pure Monopoly: Type of Product
question
No entry
answer
Pure Monopoly: Entry conditions
question
P > MC
answer
Pure Monopoly: Price and MC
question
Normal Economic Profit or loss
answer
Pure Monopoly: Short Run Profit
question
Normal Economic profit or loss
answer
Pure Monopoly: Long Run Profit
question
Downward sloping
answer
Pure Monopoly: Firm Demand Curve
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