Ch 3 · Market Structures

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5 concept points · 4 formulas · 4 exam-critical points.

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Concept

🗺️ Chart summary

Markets Spectrum
   Perfect Comp  -- Mono. Comp -- Oligopoly -- Monopoly
   (many,homog)    (many,diff)   (few)          (one)
        |              |             |             |
   price-taker    differentiated   kinked       price-maker

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