Write any 2 features of market model?
Answers
Perfect competition is a market structure where there are many firms producing identical product, all firms are price takers and have freedom of entry into the industry.
Monopoly is a market structure where there is only one firm in the industry producing a unique product and has ability to set price. There is restricted entry into this industry.
Monopolistic competition is a market structure where there are many firms producing differentiated products with relatively easy entry into the industry. All firms also have some control over price.
Oligopoly is a market structure where there are a few large firms and can create entry barriers to potential new firms. Firms produce differentiated products and can choose to collude to control price.
Answer:
Buyers and sellers.
Perfect competition.
Please mark my answers as brainliest.
Please follow me ❤❤❤❤❤