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Match the definition with the type of market structure.

Drag each item to the correct location.

(2 points)
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A market with no barriers to entry and a large number of price-setting firms.
A market with significant barriers to entry and a small number of price-setting firms.
A market with significant barriers to entry and a single price-setting firm.
A market with no barriers to entry and a large number of price-taking firms.
oligopolymonopolyperfect competitionmonopolistic competition

1 answer

Here are the correct matches for the types of market structure based on the definitions provided:

  1. A market with no barriers to entry and a large number of price-setting firms.

    • Monopolistic competition

  2. A market with significant barriers to entry and a small number of price-setting firms.

    • Oligopoly

  3. A market with significant barriers to entry and a single price-setting firm.

    • Monopoly

  4. A market with no barriers to entry and a large number of price-taking firms.

    • Perfect competition