CHAPTER
6b
THEORY OF
FIRM AND
MARKET
STRUCTURE
, Topic Learning Outcomes:
At the end of this topic, student should be
able :
1.To explain the characteristics, short-run
and long-run equilibrium of Perfect
Competition
2.To explain the characteristics, short-run
and long-run equilibrium of Monopoly
3.To explain the characteristics, short-run
and long-run equilibrium of Monopolistic
Competition
4.To explain the characteristics and short-
run equilibrium of Oligopoly
, Theory of Firm and Market
Stucture
Market structure
• There are 2 main types:
i. Perfect competition
ii.Imperfect competition (monopoly, monopolistic
competition and oligopoly).
• Each market structure has its own characteristics
in terms of number of firms, product, entry and
exit as well as market knowledge.
, PERFECT
COMPETITIO
N
6b
THEORY OF
FIRM AND
MARKET
STRUCTURE
, Topic Learning Outcomes:
At the end of this topic, student should be
able :
1.To explain the characteristics, short-run
and long-run equilibrium of Perfect
Competition
2.To explain the characteristics, short-run
and long-run equilibrium of Monopoly
3.To explain the characteristics, short-run
and long-run equilibrium of Monopolistic
Competition
4.To explain the characteristics and short-
run equilibrium of Oligopoly
, Theory of Firm and Market
Stucture
Market structure
• There are 2 main types:
i. Perfect competition
ii.Imperfect competition (monopoly, monopolistic
competition and oligopoly).
• Each market structure has its own characteristics
in terms of number of firms, product, entry and
exit as well as market knowledge.
, PERFECT
COMPETITIO
N
