A COMPARISON OF

A COMPARISON OF PERFECT COMPETITION, MONOPOLISTIC COMPETITION, MONOPOLY, & OLIGOPOLY

Type of Number of Type of Market Sellers Product Price SR profit LR Profit

------- ---------- ------- ----- --------- ---------

perfect equal pos., neg.,

competition many identical to MC or zero zero

monopolistic greater pos., neg., competition many differentiated than MC or zero zero

greater pos., neg., pos. or

monopoly one ----- than MC or zero zero

oligopoly few identical or greater pos., neg., pos. or

differentiated than MC or zero zero