Tài liệu Market structure and imperfect competition

Most markets fall between the two extremes of monopoly and perfect competition
An imperfectly competitive firm
–would like to sell more at the going price
–faces a downward-sloping demand curve
–recognises its output price depends on the quantity of goods produced and sold

Imperfect competition
An oligopoly
–an industry with a few producers
–each recognizing that its own price depends both on its own actions andthose of its rivals.
In an industry with monopolistic competition
–there are many sellers producing products that are close substitutes for one another
–each firm has only limited ability to influence its output price.