Econ: Industry Graphic Equation

Read your handout and learn about your assigned industry: cereal, fast food, diamond, automobile, telephone, clothing, film production, beauty salon and barbershop. Decide which market structure it exemplifies. Your graphic equation must visually explain how an industry illustrates the four main characteristics of market structures: number of producers, similarity of products, ease of entry, and control over prices. Based on these characteristics, we should be able to identify your industry’s market structure: perfect competition, monopolistic competition, oligopoly, or monopoly.


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