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Characteristics of the Four Market Structures Perfect Competition MonopolisticCompetition Oligopoly Monopoly Demand and Marginal Revenue* Elastic and Inelastic Range* Why is demand greater than marginal

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Characteristics of the Four Market Structures Perfect Competition MonopolisticCompetition Oligopoly Monopoly Demand and Marginal Revenue* Elastic and Inelastic Range* Why is demand greater than marginal revenue for all Price imperfectly competitive firms? Why are monopolies inefficient? 1. 2. 3. Monopoly Graph (profit)* Draw and label a Monopoly making profit Quantity Price Total Revenue Quantity Quantity

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