Applied Economics

What I Have Learned Directions: Read the following items and fill in the blanks with the correct answer. Choices are provided in the box you can use the words in the box as many times needed. Few Many Differentiated Homogenous None Low Entry and Exit Cost High Price Maker Characteristic Perfect Monopoly Oligopoly Monopolistic Competition Competition a. number of sellers Many 1. 2. Many b. types of 3. Limited 4. 5. products C. entry or exit to 6. 7. High 8. market d. pricing power Price maker but Price Taker 9. interdependent 10. behavior