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Microeconomics: Market Structures


  Topic 4 (A) : Market Structures


Topic 6 - Market Structures

Topic 4: Market Structures - Matching Exercise

Match the items on the right to the items on the left

Many consumers and producers in the industry
Both sellers and buyers are well informed about the prices and products of all firms in the industry
The minimum level of profit that is needed to maintain long-term production of a particular product
This occurs when price is equal to marginal cost, at which point the good is available to the consumer at the lowest possible price
There are barriers to entry that protect the firm from competition by other firms, this is a feature of which market structure?
The profit maximising position for a Monopolist occurs where
The maximum price a customer is willing to pay for a good.
A Perfectly Competitive firm can earn what level of profits in the short run?
The profit maximising position for a Perfectly Competitive firm occurs where
The practice of dividing consumers into more than one group with separate demand curves and charging different prices to each group