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Economics

The four kinds of market structures are Perfect Competition, Monopoly, Oligopoly, and Monoplistic Competition. Given dynamics of competition, think of the different sequential paths of market structures which firms can move by over time (any of the following is possible):

Monoply-->Oligopoly-->Monopolistic Competition-->Perfect Competition
Monoply-->Oligopoly-->Monopolistic Competition-->back to Oligopoly
Perfect Competition-->Monopolistic Competition-->Oligopoly-->Monopoly

Which path is the most consistent with the traditional Product Life Cycle (introduction, growth, maturity, decline)? How do you see pricing strategies and profits evolve along these possible paths?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9306522

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