Market Number of Price Price Freedom Short-run Long-run Structure Firms Type of Product Sold Taker? Formula of Entry? Profit? Profit? Industry Examples Perfect Choose from: Choose from: Unique, Choose Choose Choose Choose Choose [Insert two to three Competition Infinite, Many, Differentiated, Identical, from: Yes, from: P=MC, from: Yes, from: Yes, from: Yes, example industries that Few dominant Differentiated or No P>MC, No. No No. meet the criteria of the firms, one Identical P